Deep潮 TechFlow News: On November 7th, according to The Block, Elixir Protocol announced the termination of its deUSD synthetic stablecoin. This move was triggered by a chain reaction following Stream Finance’s earlier suspension of withdrawals this week. Stream Finance is in trouble after an external fund manager disclosed a $93 million loss and currently owes Elixir over $68 million.
Elixir has processed approximately 80% of deUSD redemption requests and has taken snapshots of remaining holders, promising full redemption at a 1:1 ratio with USDC. Currently, Stream Finance holds about 90% of the deUSD supply—around $75 million. Elixir is working with decentralized lending platforms like Euler, Morpho, and Compound to liquidate Stream’s positions and distribute funds to deUSD holders.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
