BlockBeats news, November 8th, Stables Labs issued a statement saying, “Recently, due to 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 experience some lag. The team has now initiated a ‘recovery plan’ aimed at providing an exit path based on a reference value of 1 USD for affected holders, subject to resource availability. This plan is voluntary and does not constitute any form of guarantee, redemption obligation, deposit absorption, or collective investment product. To ensure transparency and verifiability, the following measures will be taken: · Claim registration window: the balances of affected holders will be determined through on-chain snapshots. · Phased disclosure of recovery progress: progress will be publicly and verifiably disclosed.”
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