Odaily Planet Daily reports that DeFi liquidity protocol Elixir has successfully processed 80% of the redemptions from deUSD holders to date (excluding Stream) in the past 48 hours. Currently, Stream holds approximately 90% of the deUSD supply (about $75 million), and a similar proportion of Elixir's remaining backing assets are in the form of Morpho loans to Stream. All remaining deUSD and sdeUSD holders will be able to redeem their holdings at a peg of one US dollar.

To protect holders' interests and eliminate any risk of Stream liquidating deUSD before repaying loans, Elixir has taken a snapshot of all remaining deUSD and sdeUSD holders' balances, and a claim page will be available later today, allowing these holders to claim USDC. As part of this process, the minting/redemption infrastructure has been shut down and will be phased out of deUSD in the near future. Any affected AMM pools or LPs in the lending market will be able to claim the full value of their positions.

Given that Stream holds over 99% of the lending positions (and has decided not to repay or close these positions), Elixir will collaborate with Euler, Morpho, Compound, and others to facilitate the repayment allocation of Stream loans to liquidate these positions. It is still believed that a 1:1 redemption will be achieved, and information on the claim page will be available later today.