Elixir Sunsets deUSD Stablecoin After Stream Finance Loss

[madtrader]

Elixir, a decentralized finance liquidity provider, announced it is winding down its deUSD synthetic stablecoin following a massive loss at Stream Finance.

Stream disclosed a $93 million loss managed by an external fund, which triggered a chain reaction across the DeFi ecosystem. Elixir revealed it had 65% of deUSD collateral tied to Stream, leaving the stablecoin effectively undercollateralized.

[Nahid Hossen]

Tough call, but shutting down early might’ve saved long-term trust. ️

[EmTeam]

DeFi needs more transparency before launching “stable” assets.