Elixir: deUSD Official 1:1 USDC Redemption Channel Now Open

2025.11.07 12:58:31

On November 7th, as per official information, Elixir declared that the team has accomplished the redemption for roughly 80% of all deUSD holders (excluding the Stream portion). Presently, Stream holds approximately 90% of the deUSD supply (around $75 million), and Elixir's remaining collateral assets mainly comprise Morpho loans issued to Stream. All the remaining deUSD and sdeUSD holders (including AMM and lending platform LPs) are able to redeem USDC at a 1:1 ratio. Elixir has taken a snapshot for this purpose and has launched an official redemption page. In the meantime, the minting and redemption functions of deUSD have been deactivated. The official reminder indicates that deUSD no longer holds value, thus please refrain from purchasing or investing in it. Users are cautioned to only submit redemption applications through official links and be wary of scam websites.

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