Elixir Opens Official 1:1 deUSD-to-USDC Redemption Portal After Completing 80% Buyback

Elixir announced on Nov. 7 it has completed redemptions for approximately 80% of all deUSD holders, excluding the Stream portion, according to an official statement. Stream currently holds about 90% of the deUSD supply, valued at roughly $75 million, with Elixir's remaining collateral assets primarily consisting of Morpho loans issued to Stream. All remaining deUSD and sdeUSD holders, including liquidity providers on AMMs and lending platforms, can now exchange their tokens for USDC at a 1:1 ratio through the official redemption page. The protocol has disabled minting and redemption functions for deUSD, cautioning that deUSD no longer holds value and urging users to avoid purchasing it while warning against phishing sites.