Elixir: 80% of deUSD redemptions have been successfully processed in the past 48 hours, and the claim page will go live today.
Jinse Finance reported that the DeFi liquidity protocol Elixir stated it has successfully processed redemptions for 80% of deUSD holders (excluding Stream) over the past 48 hours. Currently, Stream holds about 90% of the deUSD supply (approximately $75 million), while a similar proportion of the remaining endorsed assets held by Elixir exists in the form of Morpho loans to Stream. All remaining deUSD and sdeUSD holders will be able to redeem at the pegged value of one dollar. To protect holders' interests and eliminate any risk of Stream liquidating deUSD before repaying the loan, Elixir has taken a snapshot of all remaining deUSD and sdeUSD holder balances, and a claim page will go live later today, allowing these holders to claim USDC. As part of this process, the mint/redeem infrastructure has been shut down, and deUSD will be gradually phased out in the near future. Any affected LPs in AMM pools or lending markets will be able to claim the full value of their positions. Given that Stream accounts for over 99% of the lending positions (and has decided not to repay or close the positions), Elixir will work with Euler, Morpho, Compound, and others to promote the repayment and allocation of Stream loans to liquidate these positions. It is still believed that redemption will be honored at a 1:1 ratio, and information about the claim page will be provided later today.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
A SharpLink-associated wallet deposited 4,363.5 ETH, worth $14.47 million, into an exchange.
