rewrite this title sUSD Staking: 5 Million SNX Rewards

Synthetix is entering a pivotal new phase, as we dive deeper into the Synthetix DeFi Renaissance. The next big iteration of Synthetix is underway, and a new set of staking initiatives is here to strengthen protocol health and incentivise the community for long-term growth.

Open right now, sUSD stakers will be rewarded for supporting Synthetix:

SNX Rewards for new sUSD depositooorsIncentivised debt offset rewards for 420 Debt releivooors

These two staking pools share the 5 Million SNX Rewards, 50% of what SIP420 has promised, with more on the way soon.

The Overview (TLDR):

For the 420 Pool Debt Relievooors: 10% of your original debt balance is required to keep the debt burn clock ticking. You have until May 12th to get started or the clock will reset and pause.

For those Infinex enjoyooors, sUSD and SNX simple rewards promotions are still live.

Simple sUSD Staking Rewards

The 420 Debt Jubilee eliminated the sUSD burn requirement for debt holders, temporarily removing a key sink for sUSD. The new sUSD staking program will help restore the peg.

Key Details:

Live Now, early deposits opened April 19, 20255 million SNX rewards distributed over 12 months (currently over 800% APR)Stake sUSD at https://420.synthetix.io/Deposited sUSD is locked until April 19, 2026 – No exit opportunity currently available until end of term (April 19, 2026)SNX rewards vest linearly over 3 months, starting from the program end (April 19, 2026)

Protocol Strategic Goals:

Remove ~10 million sUSD from circulationCreate consistent demand for sUSD until v4 is shippedPrepare for the launch and scaling of Synthetix V4 and L1 perps markets

Jump straight into sUSD Staking NOW.

Participants in sUSD staking are directly contributing to the stability of the ecosystem, while earning significant SNX rewards for their commitment.

In the future, functionality may be added to allow stakers to use deposited sUSD for early debt repayment if they choose.

The Debt Jubilee (SIP-420) offered solo SNX stakers the ability to exit their debts over time without immediate repayment. While powerful, it required careful calibration to ensure that stakers remained aligned with the protocol’s long-term health.

To that end, Jubilee participants are now required to maintain a minimum sUSD:Original Debt ratio to continue their debt forgiveness progress.

Key Details:

Any sUSD debt ratio deposits will share the 5m SNX being distributed to sUSD stakers420 stakers have a 12-day grace period after launch to meet the required ratio (May 12, midnight UTC)If a staker fails to meet the required ratio, their Jubilee will reset to $0 forgiven, and only restart at a time when they meet the minimum required ratioWhen a staker’s ratio is restored, the Jubilee clock resumesGovernance can adjust the ratio requirements over time

Maintaining an appropriate sUSD backing ensures that debt forgiveness is only rewarded to stakers who remain actively engaged in maintaining the protocol’s health and liquidity.

Adjust your 420 Debt Ratio Now to keep the burn clock running

Next Steps:

Grab some sUSD ASAP (for now, it’s still possible to buy below $1)Head to https://420.synthetix.io/ and stake that juicy sUSD bagIf you have a 420 debt position, stake at least 10% of your original debtKeep your eye out for SNX Staking Rewards very soonJoin Discord for any help required