According to ME News, on June 6 (UTC+8), the dividend-backed stablecoin protocol Apyx announced that, to protect existing users and ensure fair treatment for all holders, it has temporarily withdrawn the majority of its protocol-owned liquidity during U.S. market hours. Apyx stated that, as STRC was untradeable over the weekend, the protocol was unable to actively manage its exposure or trade underlying assets. Maintaining normal liquidity could have led to a significant deviation between the secondary market price and the net asset value (NAV) of the collateral, potentially benefiting or harming certain users. Apyx plans to restore liquidity and resume normal market operations before the U.S. markets reopen on June 8. (Source: ODAILY)
Apyx Temporarily Withdraws Most Protocol Liquidity Amid STRC Weekend Trading Halt
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Summary
On June 6 (UTC+8), Apyx temporarily withdrew most of the protocol’s liquidity to protect users during the U.S. market closure. This action followed STRC’s suspension of weekend trading, which made it impossible to manage exposure or rebalance assets. Without active liquidity, secondary prices risked diverging from NAV. Apyx aims to restore liquidity and resume normal operations before the U.S. market reopens on June 8. Traders are advised to monitor relevant altcoins during this period.
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