Stables Labs: Launches USDX Redemption Plan, Opens Registration Window

On 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. However, under extreme market conditions, adjustments to these mechanisms may have some lag." The team has now initiated a "Recovery Plan" which is designed to provide affected holders with a recovery path based on a $1 reference value, subject to the availability of resources. This arrangement is voluntary in nature and does not constitute any form of guarantee, redemption obligation, deposit absorption, or pooled 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 an on-chain snapshot. · Phased recovery progress disclosure: Progress will be publicly disclosed in a transparent and verifiable manner.