Synthetix announced that SIP-423 has essentially completed major adjustments, including officially discontinuing the old native stablecoin sUSD, restructuring the Debt Jubilee, and reforming the SNX staking mechanism. According to the proposal, the new SNX will be converted to sUSD at a 4:1 ratio, with the converted SNX undergoing a 1-year lock-up period followed by a 1-year linear unlocking. Synthetix stated that SIP-423 is essentially a 'hard reset' for the ecosystem, aiming to reduce reliance on the internal native asset system and shift focus to the perpetual contract business on the Ethereum mainnet. https://(wublock123.com)/news/synthetix-sip-423-major-adjustments-complete-66649