Svmuu reported that the dividend-backed stablecoin protocol Apyx announced it has temporarily withdrawn most of the protocol's own liquidity during the U.S. stock market closure to protect existing users and ensure fair treatment for all holders.
Apyx stated that since STRC cannot be traded over the weekend, the protocol is unable to actively manage exposure or trade the underlying assets. Maintaining normal liquidity could cause a significant deviation between the secondary market price and the net asset value (NAV) of the underlying collateral, potentially benefiting or harming some users.
Apyx said it plans to restore liquidity and resume normal market operations before the U.S. stock market reopens on June 8.