FUD on deUSD and sdeUSD
Some news outlets are carrying news on deUSD depegging and dropping from $1 to $0.1. This news is misleading and not true at all.
Elixir, the issuer has issued a statement all remaining holders of deUSD and sdeUSD will be able to redeem for a dollar. However, owners who dumped their deUSD after the snapshot should not be able to redeem it. The current balance in the wallet should match the amount at the time of the snapshot.
#PeckShieldAlert $deUSD -98%. @elixir pic.twitter.com/dihklRgig6
— PeckShieldAlert (@PeckShieldAlert) November 7, 2025
To protect the interest of these holders and remove any risk of Stream liquidating deUSD before repaying their loan, a snapshot has been taken of all remaining deUSD and sdeUSD holder balances, and a claim page will go live later today. These parties will be able to claim USDC.
This is misleading, all holders pre-snapshot will continue to get out at 1-1. We discontinued the stablecoin: https://t.co/ZNPZoT0Hir
— Philip Forte (@0xPhilip) November 6, 2025
For the time being, the mint/redeem infrastructure has been turned off and they will be sunsetting deUSD in the near future. Any affected LPs in AMM pools or lending markets will be able to claim the full value of their position.