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Stables Labs: Launches USDX Redemption Plan, Opens Registration Window
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 a certain lag."
The team has now initiated a "Recovery Plan" with the aim of providing an optional recovery path for affected holders based on a $1 reference value, subject to available resources. This arrangement is voluntary in nature 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:
· Claims registration window: Affected holders' balances will be determined through an on-chain snapshot.
· Phased recovery progress disclosure: Progress will be publicly and verifiably disclosed."
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