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Solstice: USX is not an algorithmic stablecoin, eUSX and YieldVault are unaffected
Odaily Planet Daily reports that Solstice has released an update on the USX de-pegging event on the Solana chain via the X platform. The update states that USX is recovering after fluctuations, liquidity has been injected, collateral is sufficient and intact, and USX is neither an algorithmic stablecoin nor a reset benchmark token. Previously, selling pressure from Orca and Raydium exceeded available liquidity, causing the secondary market price to fall. Solstice will continue to add liquidity as needed to ensure market stability, with eUSX and YieldVault unaffected. Assets held by Solstice are unaffected, with collateralization ratios exceeding 100%. A third-party certification report has been requested immediately for further verification.