Decentralized finance (DeFi) platform Elixir has ended support for its synthetic stablecoin, deUSD, following a major loss at Stream Finance. Stream’s $93 million shortfall in net assets triggered a ripple effect across the DeFi community and caused deUSD to rapidly lose value. 80% of deUSD holders have already had their redemptions processed by Elixir, but this inadvertently led to the token depegging from the U.S. dollar. Following Stream Finance’s collapse, deUSD has lost nearly all its value, trading at just 1.5 cents from a target of $1. The incident marks one of the largest DeFi stablecoin disruptions in recent months, prompting discussions about the fragility of synthetic asset models.