Synthetix: Legacy SNX Staking Positions Have Been Liquidated, Users Need to Migrate Soon

Synthetix: Legacy SNX Staking Positions Have Been Liquidated, Users Need to Migrate Soon As per a report from Jinse, according to Synthetix's official announcement and SCCP-403 proposal, Synthetix has begun liquidating legacy SNX staking positions and is urging users to migrate to the new 420 staking pool. Users with a collateral ratio above 160% can recover their staking positions within six months by submitting a ticket through Discord, while positions with a collateral ratio below 160% will be permanently liquidated. Migrated positions will retain the original debt, and users can repay the debt at any time to unlock SNX. This migration is to support the upcoming perpetual contract v4 and automated vaults, among other new products. The new 420 staking pool will offer users a 12-month debt exemption period, along with the introduction of sUSD debt staking requirements and related incentive mechanisms in the coming weeks.