---
title: "SUSD's 223rd Day Underwater"
canonical: "https://pharos.watch/digest/2026-06-16/"
datePublished: "2026-06-16T08:07:00.000Z"
description: "SUSD has now spent 223 days below peg, narrowing a stately 38 bps to 6,608 today. Mcap $17.79M, peg score 0, dignity absent. Liquidity improved elsewhere; pmUSD"
---

# SUSD's 223rd Day Underwater

## Executive Summary

SUSD has now spent 223 days below peg, narrowing a stately 38 bps to 6,608 today. Mcap $17.79M, peg score 0, dignity absent. Liquidity improved elsewhere; pmUSD at 3,328 bps is the trigger that matters next.

## Extended

SUSD sits 6,608 bps below peg at $0.339, having narrowed exactly 38 basis points since yesterday. The position is 5,361 hours old, meaning Synthetix's legacy stable has spent 223 days printing the same obituary. A $17.79M market cap keeps holder exposure contained; the F-grade safety score (peg=0, liq=41) keeps the diagnosis honest. Chronic, yes; resolved, no.

The day's surprise was liquidity, of all things, improving across three names. USDM jumped 18 points as TVL went from $246K to $3.13M, YLDS added $4.64M of depth for an 8-point gain, and USDY climbed 11 points while TVL dropped $840K, meaning concentration improved rather than capacity. USD1 logged a 4.07% APY against a 1.49% 30-day average, paired with $98.66M of fresh supply reversing a $70.5M weekly burn.

pmUSD held at 3,328 bps, 136 bps tighter without resolving anything. If pmUSD widens back to 3,850 bps, the lead peg-stress signal re-escalates and yesterday's PENDING forward-look prints true. PSI sits at 92.2, four days into a BEDROCK streak; a drop to 90 reframes tomorrow from calm-with-chronic-craters to active deterioration, and the USD1 yield spike is the corroboration to watch.