Apyx's STRC collateralized stablecoin suffers a brief depeg. Protocol says its a feature, not bug
Key takeaways
- And the latest candidate is apxUSD, the preferred equity-backed stablecoin of the Apyx protocol.
- The stablecoin is primarily backed by preferred equity issued by digital asset treasury firms, specifically Strategy's STRC shares, which carry a $100 par value.
- The protocol purchases those shares, collects the dividend they pay and distributes the yield to onchain holders.
Protocol says its a feature, not bug Apyx’s apx USD stablecoin briefly slipped to 93 cents Wednesday.By Omkar Godbole|Edited by Shaurya Malwa Jun 4, 2026, 6:35 a.m. 2 min read Make preferred on Apyx's stablecoin depegs (Pixabay)What to know: Apyx’s apx USD slipped to 93 cents during bitcoin’s drop below $63,000.Apyx says volatility is expected and cushioned by overcollateralization, dividend mechanisms, and limited liquidation risk in Morpho markets.Stablecoin depegs are a recurring feature of crypto bear markets. And the latest candidate is apxUSD, the preferred equity-backed stablecoin of the Apyx protocol.
As market leader bitcoin BTC$64,040.41 fell sharply in the past 24 hours, reaching lows under $63,000 at one point, apxUSD briefly slipped to as low as 93 cents, deviating from its 1:1 dollar peg, according to CoinMarketCap.
The stablecoin is primarily backed by preferred equity issued by digital asset treasury firms, specifically Strategy's STRC shares, which carry a $100 par value.