Elixir: deUSD Official 1:1 USDC Redemption Channel Now Open
By: theblockbeats.news|2025/11/07 05:28:08
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BlockBeats News, November 7th, according to official sources, Elixir announced that the team has completed redemption for approximately 80% of all deUSD holders (excluding the Stream portion). Currently, Stream holds approximately 90% of the deUSD supply (around $75 million), and Elixir's remaining collateral assets mainly consist of Morpho loans issued to Stream.
All remaining deUSD and sdeUSD holders (including AMM and lending platform LPs) can redeem USDC at a 1:1 ratio. Elixir has taken a snapshot for this purpose and has launched an official redemption page.
Meanwhile, the minting and redemption functions of deUSD have been disabled. The official reminder states that deUSD no longer holds value, so please refrain from purchasing or investing in it. Users are warned to only submit redemption applications through official links and to be cautious of scam websites.
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