The high-yield stablecoin protocol paused ebUSD minting and told users to unwind vaults, Stability Pool positions and DEX liquidity before the interface goes offline.
Ebisu, a high-yield stablecoin protocol, said it will wind down in stages, with its frontend scheduled to close on October 30. Before then, users have been instructed to close vaults, withdraw deposits from the Stability Pool (reserve used to absorb protocol losses), and remove ebUSD liquidity from the DEX (decentralized exchange). The protocol has already paused ebUSD minting. Ebisu also said EBISU will not list, no airdrop will be made to xEBISU or BOLD holders, and xEBISU carries no monetary value and cannot be redeemed.