Stables Labs: USDX recovery plan launched, claim registration window now open

Foresight News reported that Stables Labs stated, "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 collateralized positions and hedging strategies, but under extreme market conditions, adjustments to these mechanisms may experience certain delays. The team has now initiated a 'recovery arrangement' aimed at providing affected holders with a recovery path referenced to a value of $1, subject to resource availability. This arrangement is voluntary in nature and does not constitute any form of guarantee, redemption obligation, deposit-taking, or collective investment product. To ensure transparency and verifiability, the balances of affected holders will be determined through on-chain snapshots, and the recovery progress will be disclosed in phases, with progress being made public and verifiable."