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After the shutdown of Stream Financeresearchers in decentralized finance (DeFi) have discovered large sums related to its lending and synthetic asset activities.
The total amount at risk is estimated at approximately $284.9 millionspread across different platforms and tokens.
On November 4, a group called Yields and more (YAM) results shared which shows that many DeFi platforms are connected to Stream’s synthetic tokens, including xUSD, xBTC and xETH.
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Some of the affected platforms include Euler, Morpho, Silo and Gearbox.
The report indicated that the fallout was greater than previously thought. Assets such as deUSD from Elixir and scUSD from Treeve were also involved in the lending loops.
These complex structures made it more difficult to see how it was due, but the researchers estimated nearly $285 million in debt in the affected markets.
The group also listed several funds and projects with significant exposure, including TelosC, Elixir, MEV Capital, Re7 Labs and Varlamore. TelosC alone may have about $123 million at risk.
Elixir reportedly loaned $68 million to Streamwhich may be more than half of the assets backing their deUSD token. The signature said which has the right to redeem deUSD at a fixed rate of $1.
However, Stream said any repayment will have to wait until legal teams determine how to divide the liabilities.
Recently, Guy Young, the founder of Athena Labs, shared his views on the recent price drop of the USDe stablecoin on Binance.
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