TechFlow, November 13 — MEV Capital has posted an update on X regarding the latest developments in the operation of the Morpho USDC vault. The Ethereum-based Morpho USDC vault has removed Elixir's sdeUSD/USDC trading pair, resulting in bad debt equivalent to approximately 3.6% of the vault's total value locked (TVL) at the time. The vault no longer holds any Elixir assets, while all other markets and parameters remain unchanged. MEV Capital continues to collaborate with relevant parties to address issues faced by Elixir creditors.
Previously, Elixir announced that its stablecoin deUSD has been officially retired and is no longer of any value, initiating a USDC compensation process for all holders of deUSD and its derivatives (such as sdeUSD), affecting borrowers on lending platforms, AMM LPs, Pendle LPs, and others.
