The post Elixir Protocol Ends deUSD Coin After Stream Finance Losses appeared on BitcoinEthereumNews.com. Key Points: Elixir Protocol terminates deUSD stablecoin after Stream’s loss. Stream Finance owes Elixir $68 million. DeFi platforms affected, pledging 1:1 USDC redemption. Elixir Protocol has ceased operations of its deUSD synthetic stablecoin following Stream Finance’s withdrawal suspension due to a $93 million loss, impacting decentralized finance (DeFi) ecosystems involving significant collateral liquidation. This incident underscores vulnerabilities in DeFi mechanisms, reminiscent of past stablecoin failures, affecting liquidity across multiple lending platforms and sparking action to stabilize market conditions. Elixir Ends deUSD After Stream Finance’s $93M Financial Blow Elixir Protocol’s decision to end its deUSD stablecoin arises from a chain reaction initiated by Stream Finance‘s financial difficulties. Stream Finance, a key player, has disclosed a $93 million loss, owing Elixir over $68 million. Elixir has managed to process about 80% of redemption requests, with remaining holders promised a 1:1 USDC swap. Stream Finance holds 90% of the deUSD supply—approximately $75 million— which Elixir is actively working to liquidate through platforms like Euler and Morpho. The market is experiencing shifts, with lending platforms like SuiLend reporting that Elixir has repaid its USDC debts, allowing withdrawals to be restored. Decentralized exchanges and platforms are scrambling to adjust, and temporary suspensions and pauses on transactions have been recorded. The urgency of these actions highlights market volatility. Market and community reactions have been varied. SuiLend communicated their cooperation with Elixir via an official message, underscoring their restoration of USDC withdrawals following repayments. Compound implemented an emergency halt in stablecoin markets, signaling a need for caution and risk management. “Elixir announces the termination of the deUSD synthetic stablecoin, pledging a 100% redemption…All remaining deUSD and sdeUSD holders will be able to redeem at a pegged value of one US dollar.” — Elixir Protocol, Elixir Announcement deUSD’s Depreciation and the Future of Stablecoins Did you know? Echoing… The post Elixir Protocol Ends deUSD Coin After Stream Finance Losses appeared on BitcoinEthereumNews.com. Key Points: Elixir Protocol terminates deUSD stablecoin after Stream’s loss. Stream Finance owes Elixir $68 million. DeFi platforms affected, pledging 1:1 USDC redemption. Elixir Protocol has ceased operations of its deUSD synthetic stablecoin following Stream Finance’s withdrawal suspension due to a $93 million loss, impacting decentralized finance (DeFi) ecosystems involving significant collateral liquidation. This incident underscores vulnerabilities in DeFi mechanisms, reminiscent of past stablecoin failures, affecting liquidity across multiple lending platforms and sparking action to stabilize market conditions. Elixir Ends deUSD After Stream Finance’s $93M Financial Blow Elixir Protocol’s decision to end its deUSD stablecoin arises from a chain reaction initiated by Stream Finance‘s financial difficulties. Stream Finance, a key player, has disclosed a $93 million loss, owing Elixir over $68 million. Elixir has managed to process about 80% of redemption requests, with remaining holders promised a 1:1 USDC swap. Stream Finance holds 90% of the deUSD supply—approximately $75 million— which Elixir is actively working to liquidate through platforms like Euler and Morpho. The market is experiencing shifts, with lending platforms like SuiLend reporting that Elixir has repaid its USDC debts, allowing withdrawals to be restored. Decentralized exchanges and platforms are scrambling to adjust, and temporary suspensions and pauses on transactions have been recorded. The urgency of these actions highlights market volatility. Market and community reactions have been varied. SuiLend communicated their cooperation with Elixir via an official message, underscoring their restoration of USDC withdrawals following repayments. Compound implemented an emergency halt in stablecoin markets, signaling a need for caution and risk management. “Elixir announces the termination of the deUSD synthetic stablecoin, pledging a 100% redemption…All remaining deUSD and sdeUSD holders will be able to redeem at a pegged value of one US dollar.” — Elixir Protocol, Elixir Announcement deUSD’s Depreciation and the Future of Stablecoins Did you know? Echoing…