Following the shutdown of Stream Finance, researchers in decentralized finance (DeFi) have uncovered giant sums tied to its lending and artificial asset actions.
The entire quantity in danger is estimated to be round $284.9 million, unfold throughout varied platforms and tokens.
On November 4, a bunch known as Yields and Extra (YAM) shared findings exhibiting that many DeFi platforms have been related to Stream’s artificial tokens, together with xUSD, xBTC, and xETH.
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Among the affected platforms included Euler, Morpho, Silo, and Gearbox.
The report identified that the fallout was bigger than it first appeared. Belongings like deUSD from Elixir and scUSD from Treeve have been additionally concerned in lending loops.
These complicated constructions made it tougher to see how a lot was owed, however the researchers estimated practically $285 million in debt throughout affected markets.
The group additionally listed a number of funds and tasks with important publicity, together with TelosC, Elixir, MEV Capital, Re7 Labs, and Varlamore. TelosC alone might have round $123 million in danger.
Elixir was reported to have lent $68 million to Stream, which can make up greater than half of the property backing its deUSD token. The agency acknowledged that it holds the fitting to redeem deUSD at a set fee of $1.
Nevertheless, Stream stated any repayments must wait till authorized groups decide divide obligations.
Just lately, Man Younger, the founding father of Ethena Labs, shared his views on the latest value drop of the USDe stablecoin on Binance
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. What did he say? Learn the complete story.
