420 Legacy Staking
Last updated: Jun 24, 2026
This page contains information about the retired 420 staking system, including its closure, SIP-423, legacy rewards, outstanding debt, and sUSD to SNX conversion guidance.
Overview
The 420 staking system has been retired, and legacy 420 staking positions have been wound down.
Most former 420 stakers have already had their eligible SNX and/or sUSD returned to their wallet and do not need to take further action at this time.
This page is primarily relevant if you:
- Had outstanding debt when the 420 staking system closed
- Are awaiting legacy staking reward distributions
- Hold sUSD and may be eligible for the sUSD to SNX conversion process
- Want to understand how SIP-423 affects legacy staking, debt, and sUSD
What was 420 Staking?
The 420 pool was Synthetix's legacy staking system, established as a result of SIP-420. It allowed users to stake SNX and/or sUSD while participating in debt management and reward mechanisms designed to address legacy staking debt.
The 420 staking system has since been retired as part of SIP-423.
SIP-423
SIP-423 provides the framework for closing the 420 staking system, retiring legacy sUSD, and introducing the future debt resolution process for users with outstanding debt.
As part of this process:
- The 420 staking system has been retired
- The Debt Jubilee has ended
- Legacy sUSD has been deprecated
- sUSD staking requirements have been removed
- Eligible SNX and/or sUSD have been returned to former stakers where applicable
- Legacy staking positions have been wound down
- A new debt resolution framework has been introduced for users with outstanding debt
Key Dates
| Milestone | Date |
|---|---|
| 420 Staking Closed | June 19th, 2026 |
| Debt Jubilee Ended | June 19th, 2026 |
| SNX Rewards for Staked sUSD | May 19th to July 2026 |
| SNX Rewards for Staked SNX | June 28th to August 2026 |
| Staked sUSD distributed back to Users | June 19th, 2026 |
| Staked SNX distributed back to Users | June 26th, 2026 |
| sUSD Snapshot for 1:4 SNX Conversion | June 26th, 2026 |
| 1:4 SNX Conversion Claim Window Opens | June 26th, 2027 |
Former 420 Stakers Without Debt
Former 420 stakers without outstanding debt have already had their eligible tokens returned to their wallet as part of the 420 wind-down process.
No further action is required to receive returned SNX or sUSD.
Former 420 Stakers With Debt
Former 420 stakers with outstanding debt have not had their SNX returned and remain subject to the debt resolution framework introduced under SIP-423.
Any sUSD staked as part of Debt Jubilee has been returned to the user's wallet as part of the 420 wind-down process.
New terms include:
- A 4-year lock period starting June 26th, 2026
- A 1-year vesting period starting June 26th, 2030
- An option to exit early by repaying outstanding post-Debt Jubilee debt
- Outstanding debt will be repayable in USDT
Users who wish to repay their remaining post-Debt Jubilee debt before the end of the debt resolution period may be able to do so through Support.
For information regarding eligibility, repayment requirements, and the repayment process, please see Repaying Post-Debt Jubilee Debt.
Legacy sUSD Holders
Eligible sUSD holders will be able to claim newly minted SNX based on the snapshot taken after the deprecation of sUSD.
The conversion process is expected to follow this lifecycle:
- Conversion ratio: 1 sUSD = 4 SNX
- Snapshot date: June 26, 2026
- Lock period: June 26, 2026 to June 26, 2027
- Vesting period begins: June 26, 2027
- Claim window opens: June 26, 2027
Further information about the claims process will be published when available.
sUSD held in LP pools, vaults, safes, or other deposit contracts may require a separate claims process. Additional guidance will be provided as implementation details become available.
Claiming Vested SNX
SNX received through either the debt resolution process or the sUSD to SNX conversion process will be subject to a vesting schedule.
Vested SNX must be claimed within six months of becoming available. Any vested SNX that remains unclaimed for longer than six months is expected to expire and become unclaimable.
Users are encouraged to claim vested SNX regularly during the vesting period to avoid losing vested tokens.
Rewards
SNX rewards from legacy staking have been scheduled for distribution and are expected to be completed by the end of August 2026.
Rewards are distributed in three monthly batches for each eligible staked asset.
Staked sUSD Rewards
| Reward Distribution | Expected Distribution |
|---|---|
| Distribution 1 | End of May 2026 |
| Distribution 2 | End of June 2026 |
| Distribution 3 | End of July 2026 |
Staked SNX Rewards
| Reward Distribution | Expected Distribution |
|---|---|
| Distribution 1 | End of June 2026 |
| Distribution 2 | End of July 2026 |
| Distribution 3 | End of August 2026 |
If you believe you are missing rewards from any distribution, open a support ticket.
Legacy Account Recovery
Recovery of pre-420 legacy staking accounts is no longer possible.
The account recovery period ended on November 27, 2025.
Support
If you are unsure whether your tokens have been returned, first check your wallet address using a blockchain explorer.
If you still require assistance with legacy staking, debt, rewards, or SIP-423, open a support ticket and include:
- Your wallet address
- The network or networks you used, if known
- Any relevant transaction hashes, if available
This helps the team investigate your case more quickly.