On November 6, Elixir announced the cessation of its stablecoin deUSD after Stream Finance borrowed it to stabilize its own stablecoin. Elixir stated that deUSD now has no value and urged holders to redeem their tokens for USDC. This step follows earlier redemptions covering around 80% of supply, excluding Stream Finance’s 90% stake worth $75 million, and marks the formal end of minting and redemption functions for deUSD and sdeUSD.