Elixir Completes 80% of deUSD Redemptions, Claims Portal to Launch Today

DeFi liquidity protocol Elixir has processed redemptions for 80% of deUSD holders over the past 48 hours, excluding Stream, the protocol announced on November 7. Stream currently holds approximately 90% of the deUSD supply, valued at around $75 million, with a similar proportion of Elixir's remaining backing assets existing as Morpho loans to Stream. Elixir has taken snapshots of all remaining deUSD and sdeUSD holder balances and will launch a claims portal later today, allowing holders to claim USDC at a $1 peg value. The protocol has shut down its minting and redemption infrastructure and plans to phase out deUSD, while working with Euler, Morpho, and Compound to pursue repayment distributions from Stream's loan positions.