sUSD is the primary over-collateralized stablecoin within the Synthetix ecosystem. Minted against SNX collateral, it serves as the base unit of account for synthetic assets, perpetuals, and yield operations. On Ethereum Mainnet, sUSD is used for staking, liquidity provision (LPing), and for settling legacy Debt Jubilee positions. It is designed to maintain a soft peg to the U.S. dollar.
Introduced through SIP-420, the 420 Pool represents a major evolution in SNX staking. It replaces the legacy solo staking model with a unified, protocol-managed pool that earns yield from both Synthetix operations and external DeFi integrations. There are no liquidations, c-ratios, or debt management requirements, users simply stake SNX to start earning yield.
The 420 Pool generates yield by minting sUSD against SNX collateral (at a 200% c-ratio) and deploying it across leading DeFi protocols such as Aave, Maker, Ethena, and Berachain Vaults.
Within the 420 Pool, Simple Staking offers a straightforward, debt-free staking option where rewards accrue over 12 months and vest linearly for 3 months. Withdrawals are always possible after a 7 day cooldown, with early exits reducing unvested rewards. Legacy participants in the Debt Jubilee program received progressive debt forgiveness over 12 months, 50% after six months and full forgiveness upon completion, by maintaining a minimum sUSD balance equal to 20% of their original debt.
sUSD is the primary over-collateralized stablecoin within the Synthetix ecosystem. Minted against SNX collateral, it serves as the base unit of account for synthetic assets, perpetuals, and yield operations. On Ethereum Mainnet, sUSD is used for staking, liquidity provision (LPing), and for settling legacy Debt Jubilee positions. It is designed to maintain a soft peg to the U.S. dollar.
Introduced through SIP-420, the 420 Pool represents a major evolution in SNX staking. It replaces the legacy solo staking model with a unified, protocol-managed pool that earns yield from both Synthetix operations and external DeFi integrations. There are no liquidations, c-ratios, or debt management requirements, users simply stake SNX to start earning yield.
The 420 Pool generates yield by minting sUSD against SNX collateral (at a 200% c-ratio) and deploying it across leading DeFi protocols such as Aave, Maker, Ethena, and Berachain Vaults.
Within the 420 Pool, Simple Staking offers a straightforward, debt-free staking option where rewards accrue over 12 months and vest linearly for 3 months. Withdrawals are always possible after a 7 day cooldown, with early exits reducing unvested rewards. Legacy participants in the Debt Jubilee program received progressive debt forgiveness over 12 months, 50% after six months and full forgiveness upon completion, by maintaining a minimum sUSD balance equal to 20% of their original debt.
