Synthetix founder Kain Warwick has threatened SNX stakers with “the stick” if they don’t take up a newly launched staking mechanism to help fix the protocol’s ongoing sUSD (SUSD) depeg.
Warwick said in an April 21 post to X that it has now implemented a sUSD staking mechanism to address the depeg, but admitted it is currently “very manual” without a proper user interface.
However, once the UI goes live, Warwick said, if there isn’t enough momentum, then they may have to “ratchet up the pressure” on the stakers in the sUSD 420 pool.
The sUSD 420 Pool was a new staking mechanism introduced on April 18 by Synthetix that would reward participants with a share of 5 million SNX tokens over 12 months if they locked their sUSD for a year in the pool.
“This is very solvable and it is SNX