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Sip 423 update 2 #2252

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Merged
kaleb-keny merged 2 commits into from
Jun 16, 2026
+3 −2
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Sip 423 update 2 #2252

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74c94b7
Update sip-423.md
Fenway-snx Jun 16, 2026
4f1ddaf
fix yaml error
Fenway-snx Jun 16, 2026
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5 changes: 3 additions & 2 deletions content/sips/content/sips/sip-423.md
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Expand Up @@ -2,7 +2,7 @@
sip: 423
title: sUSD Retirement & Staking Reform
network: Ethereum + Optimism
status: Draft
status: "[Voting](https://snapshot.org/#/s:snxgov.eth/proposal/0x3cbe7236d2b112ebc5032a3dd534c93091f0dd9bd04c2e9151ab2e25ecfd66d3)"
proposal:
type: Governance
author: Kain Warwick and Benjamin Celermajer
Expand Down Expand Up @@ -144,7 +144,8 @@ SNX staking shall no longer require stakers to hold, stake, or acquire sUSD as a
| Early exit condition | Repay remaining debt in full | Condition for leaving before lock/vest completion (Phase 3, early exit path) |
| Staking reform deadline | TBD | Last date for solo staker migration or debt repayment |
| Unclaimed sUSD entitlement treatment | TBD | Forfeiture, extension, or treasury recovery |

| Synthetix revenue hurdle | $10m | Amount of revnue the protocol needs to generate before creating a sUSD for USDT claim mechanism |
| Share of revnue for sUSD distribution | 25% | The percentage of revenue used to redeem sUSD claims at 1 USDT once the Synthetix revenue hurdle is achieved |



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