Apyx Releases Apyx 2.0 After apxUSD Falls to $0.90 During Bitcoin Decline

Apyx said apxUSD fell to $0.90 on the secondary market during a recent Bitcoin decline after STRC hit its largest historical drawdown. According to Odaily, Apyx said the protocol remained solvent throughout the event and that the Morpho lending market did not incur bad debt. Apyx said it has released Apyx 2.0 to address issues identified in the stress test, including overnight liquidity and inaccurate net asset value (NAV) displays. The update introduces two separate metrics—redemption value and total collateral value—intended to remove a first-mover arbitrage option tied to NAV-based redemptions. Apyx 2.0 will also add a new request-for-quote (RFQ) redemption system that allows approved counterparties to execute redemptions through bidding around reserves. Apyx said it will publish a public status update within two hours if apxUSD deviates from NAV by more than 2%.