PANews reported on April 27 that Synthetix stated in its official blog that according to the SCCP-403 proposal, Synthetix has officially completed the transition to the 420 staking pool, and all old SNX staking positions have been liquidated as planned. However, most positions can still be restored. If the user is a historical staker who has not yet migrated to the 420 pool, please be sure to follow the steps below as soon as possible. This upgrade will promote the Synthetix system to fully support future products, including the upcoming Perps v4 perpetual contract platform, automated Vaults and other core functions.
Key rule description: If the user's pledge position has a collateral ratio (C-Ratio) lower than 160% at the time of liquidation, the pledge position has been permanently liquidated and cannot be restored. If the collateral ratio is ≥160% at the time of liquidation, your pledge position can be restored, but the migration must be completed within 6 months from the date of liquidation. Notes after restoration: The migrated pledge position will retain the debt scale at the time of liquidation, and users can repay the debt at any time to unlock SNX tokens; the new pool allows pledgers to gradually reduce their debts within 12 months (subject to certain conditions), and the specific rules and sUSD staking reward plan will be announced in the coming weeks. Currently, users can apply to participate in the sUSD staking test.
