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Yala's stablecoin YU has experienced a suspicious situation similar to USDX, where the associated address borrowed USDC at a very high interest rate but has never repaid the loan.
BlockBeats News, November 15th, the DeFi community YAM posted on X, stating that they have observed a concerning signal regarding the Yala stablecoin YU. An address closely related to Yala has fully borrowed USDC and most of the YU funds from the Yala Frontier market on Euler, despite the interest rate remaining high, there has been no repayment action. Currently, the market's fund utilization rate has reached 100%, meaning lenders are unable to withdraw any liquidity. The Euler team has also set the borrowing limit for the Yala market on Frontier to zero. It is reported that the Yala team has not responded to the Euler team and Discord community users.
YAM further stated that currently, YU on Solana still maintains a stable exchange rate, and there is nearly a million USDC in the liquidity pool available to exit at the anchored price. This article serves more as a risk warning, and it is still uncertain whether Yala is truly in trouble.
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