Golden Finance reports that MEV Capital has published an update on the operation of the Morpho USDC vault on the X platform. Currently, the Ethereum Morpho USDC vault has removed the Elixir sdeUSD/USDC trading pair, resulting in bad debt equivalent to nearly 3.6% of the vault's Total Value Locked (TVL) at that time. The vault no longer holds any Elixir assets, and other markets and parameters remain unchanged. MEV Capital is still collaborating with relevant parties to address the issues faced by Elixir creditors.
Previously, it was announced that Elixir's stablecoin deUSD has officially retired and no longer holds any value. A USDC compensation process will be initiated for all holders of deUSD and its derivatives (such as sdeUSD), affecting collateral providers on lending platforms, AMM LPs, Pendle LPs, and others.
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