#apxusd

➤ Apyx Finance's apxUSD stablecoin lost its dollar peg, trading as low as $0.90 due to a sharp decline in Bitcoin and its primary collateral, STRC preferred stock. ➤ The depeg was exacerbated by a liquidity mismatch between 24/7 crypto markets and the Nasdaq-traded STRC, leading to panic selling and price dislocations. ➤ Apyx Finance plans to release a review of the incident and implement changes to mitigate future volatility, particularly during off-hours trading.

➤ Apyx's apxUSD stablecoin briefly depegged to $0.93 due to the volatility of its underlying preferred equity collateral (STRC). ➤ The protocol states this is an expected feature, not a bug, as preferred equity is inherently more volatile than cash reserves, and STRC has historically reverted to its par value. ➤ Despite market concerns, Apyx asserts its multi-layered peg stability model, including excess collateral and specific lending market mechanics, mitigates liquidation risks.