Elixir Suspends deUSD Support Following $93 Million Stream Finance Collapse

A significant incident in the decentralized finance (DeFi) space has prompted Elixir Network to suspend its deUSD stablecoin support. This decision comes directly after the devastating collapse of Stream Finance, which led to a $93 million loss and exposed vulnerabilities within the synthetic stablecoin sector. 65% of deUSD’s reserves were tied to Stream Finance before its failure. This event highlights the delicate balance between DeFi innovation and the inherent risks involved.