ChainCatcher news, Sonic ecosystem lending protocol project Silo Labs has issued an update on the xUSD depegging event on the X platform. So far, the confirmed repayment amount has reached approximately 2.13 million USD, including about 88,169 USD on Sonic, approximately 556,669 USD on Avalanche, and around 1.49 million USD on Arbitrum. Previously, the price of Stream Finance stablecoin xUSD significantly deviated from its target range, affecting on-chain curated projects including Euler, Morpho, and Silo.

Foresight News reports that digital asset management company Farm Capital tweeted that its on-chain yield strategy product mFARM has borrowed 1.09 million USD from the Silo sUSDX·USDC market (Arbitrum platform ID 127) and is currently unable to withdraw. In the worst-case scenario, this 1.09 million USD could become a bad debt, resulting in a total loss. The team is actively seeking the recovery of the sUSDX market and will do its best to recover the funds. Farm Capital will bear over 50% of the bad debt, some of which has already been transferred through OTC trades. The price of mFARM will be updated within the next 48 hours, after which redemptions will resume normally. Users looping mFARM/USDC on Euler or Morpho should pay attention to the health factor and liquidation price.