BlockBeats News, November 8th, Stables Labs announced that, “Recently, due to the impact of market liquidity conditions and liquidation dynamics, the market price of USDX has deviated from its reference value. The stability mechanism of USDX is supported by collateral positions and hedging strategies, but under extreme market conditions, adjustments to these mechanisms may have some lag.
The team has now initiated a ‘Recovery Plan’ designed to provide affected holders with a recovery path based on a $1 reference value, subject to resource availability. This arrangement is voluntary in nature and does not constitute any form of guarantee, redemption obligation, deposit absorption, or pooled investment product. To ensure transparency and verifiability, the following measures will be taken:
· Claim registration window: Affected holders’ balances will be determined through an on-chain snapshot.
· Phased recovery progress disclosure: Progress will be publicly disclosed in a transparent and verifiable manner.”
