According to a report from Techub News citing cryptobriefing.com, Apyx’s stablecoin apxUSD experienced a brief depegging to $0.93 on March 4, 2026. The event coincided with a broader market sell-off that saw Bitcoin fall below $63,000. Apyx stated that such price deviation is an expected result of its unconventional collateral model, not an indication of protocol failure.
Apyx bills itself as the first dividend-backed stablecoin protocol, where minting is collateralized by preferred shares acquired from public markets. The protocol maintains an overcollateralization ratio of approximately 104% to absorb market shocks. At present, Apyx holds about 288,888 STRC preferred shares, valued at roughly $29 million. Although the depeg reached 7%, Apyx emphasized that the model is designed to accommodate temporary price deviations and that the collateral value remains sufficient to cover outstanding stablecoin liabilities.