xusd

Re7 Labs posted on platform X that it has taken measures to address and mitigate issues in multiple markets, including xUSD, deUSD, sdeUSD, sUSDX, and USDX. An event review has been released:Stream (xUSD): At the beginning of October, Re7 Labs discovered that Stream was using its token xUSD as collateral to borrow USDT0. Although the CEO of Stream assured that the position was stable, its outstanding positions subsequently began to incur high borrowing rates. On October 29, Re7 Labs contacted Stream again, and Stream subsequently repaid part of the loan. To prevent the risk from expanding, Re7 Labs has withdrawn all funds from the xUSD market and halted new deposits in that market.Elixir (deUSD and sdeUSD): On October 21, Elixir requested a distribution limit of $6 million to $7 million from the Re7 Labs Euler Earn USDT0 vault, after which the funds were lent out, causing the utilization rate of all sdeUSD and deUSD markets to reach 100%. On October 27, Re7 Labs discovered that the borrower was associated with Stream and immediately began to reduce its risk exposure to Stream and Elixir. By November 6, all borrowing positions using sdeUSD as collateral on Plume had been fully repaid. The total impact caused by Elixir was approximately $13.974 million.Stable Labs (USDx and SUSDx): On November 4, Re7 Labs monitored accounts related to the largest holders of sUSDX and USDX transferring funds to Binance, while borrowing rates soared. After unsuccessful communication with Stable Labs CEO Flex, Re7 Labs took protective measures such as lowering the supply cap and adjusting risk parameters. On November 6, Lista liquidated malicious positions through a DAO proposal, avoiding approximately $3 million to $4 million in bad debts. The total impact caused by Stable Labs was approximately $13.114 million.Re7 Labs stated that it is currently communicating with external partners and legal advisors, seeking detailed legal advice to formulate a response strategy.

Trading StrategyIn-depth investigation reveals that the fundamental reason for the de-pegging of Stream XUSD is not the Balancer hacking incident, but rather the failure of the Delta neutral strategy during the historic liquidation on October 11.Although Stream claims to adopt a Delta neutral hedging strategy (1:1 configuration of spot and short positions), during the extreme volatility on October 11, the exchange's automatic deleveraging (ADL) system forcibly liquidated its positions, breaking the original hedging balance. This led to a direct loss of Stream's principal, which in turn triggered the de-pegging of XUSD.Underlying issues include: a severe lack of transparency (only $150 million out of $500 million TVL visible on-chain), high-risk off-chain trading strategies (including selling volatility strategies), and excessive leverage (recursive borrowing through Elixir). Analysis indicates that Stream is merely one of the first victims to surface.Given that October 11 was an unprecedented extreme liquidation event, it is expected that more DeFi projects will face similar issues in the future, highlighting the urgent need for stricter risk transparency standards in the crypto market.

Market CoinGecko data shows that Staked Stream USD (XUSD) has expanded its de-pegging to 62.1%, currently priced at $0.5504.

According to the official announcement, Stream Finance stated that an external fund manager disclosed a loss of approximately $93 million in the Stream funds they oversee. Stream has hired attorneys Keith Miller and Joseph Cutler from the law firm Perkins Coie LLP to lead a comprehensive investigation.Currently, Stream is withdrawing all liquid assets and has announced a suspension of all deposit and withdrawal operations, with regular updates on related progress to follow. Earlier today, PeckShield stated that Staked Stream USD (XUSD) has depegged by about 23%.

The staked stablecoin Stream USD (XUSD) has depegged, with a 24-hour drop of 22.6%, currently priced at $0.938.

ChianCatcher news, according to the official announcement, Binance will resume the funding rate settlement frequency for the MYX/USDT and OMNI/USDT perpetual contracts on August 11, 2025, at 20:00 (UTC+8), adjusting it to once every four hours. The maximum funding rate after the adjustment will remain in the range of +2.00%/-2.00%.This adjustment will take effect starting from 20:00 on August 11, and subsequent settlements will occur daily at 00:00, 04:00, 08:00, and other times.

ChainCatcher news, according to the official announcement, Binance will resume the funding rate settlement frequency for the MYXUSDT and OMNIUSDT perpetual contracts to every four hours starting from August 11, 2025, at 20:00 (UTC+8).The adjusted maximum funding rate will remain in the range of +2.00%/-2.00%. This adjustment will take effect from 20:00 on August 11, and subsequent settlements will occur daily at 00:00, 04:00, 08:00, and other times.

ChainCatcher message, OKX will delist XLMUSD, ATOMUSD, OPUSD, and TRXUSD perpetual contracts on August 15, 2025, at 4:00 PM. Trading for these contracts will cease at that time, and all user orders will be canceled. The contract settlement price will be determined based on the arithmetic average of the OKX Index in the hour prior to delisting, and no funding fees or transaction fees will be charged at settlement.

According to ChainCatcher news and the official announcement, the Binance futures platform will launch perpetual contracts at the following times:July 23, 2025, 15:30 (UTC+8): PENGUUSDC perpetual contract, with a maximum leverage of up to 75 times;July 23, 2025, 19:30 (UTC+8): CVXUSDT perpetual contract, with a maximum leverage of up to 75 times;July 23, 2025, 19:45 (UTC+8): SLPUSDT perpetual contract, with a maximum leverage of up to 75 times.It supports multi-asset mode trading, with a funding rate settlement frequency of every four hours, and a maximum funding rate of ±2.00%.

ChainCatcher news, according to The Block, PlatON has successfully integrated the compliant stablecoins XSGD (1:1 pegged to the Singapore Dollar) and XUSD (1:1 pegged to the US Dollar) issued by StraitsX into its network. Users can freely send, receive, and hold XSGD and XUSD on PlatON. With the collaboration of multiple stablecoin issuers and cross-border payment institutions, PlatON will provide richer payment scenarios for XSGD and XUSD, including online and offline payment network access, cross-border remittance services, and stablecoin exchange services.It is reported that StraitsX is a major payment institution authorized by the Monetary Authority of Singapore (MAS). This collaboration with PlatON not only provides high-performance underlying infrastructure for XSGD and XUSD but also, through cooperation with licensed acquirers such as Allinpayintl, builds a complete link from stablecoin issuance, cross-border payments to local consumption, enabling merchants in regions such as Singapore and Hong Kong to accept digital currencies, allowing stablecoins to be used conveniently and securely in online and offline payment settlement scenarios.

ChainCatcher news, Binance Futures will launch PUNDIXUSDT and CTKUSDT perpetual contracts.The Binance Futures platform will launch the perpetual contracts at the following times:April 30, 2025, 18:00 (UTC+8): PUNDIXUSDT perpetual contract, with a maximum leverage of 75xApril 30, 2025, 18:15 (UTC+8): CTKUSDT perpetual contract, with a maximum leverage of 75x

ChainCatcher news, according to the official announcement, Binance VIP borrowing has added FORM, NIL, and XUSD as borrowable assets, and added FORM as collateral asset.

ChainCatcher news, according to the official announcement, Binance Wealth Management, One-Click Buy, Flash Exchange, Leverage, and Contracts will support StraitsX USD (XUSD) and Four (FORM).Among them, Binance will launch FORM 1-50x U-based perpetual contracts on March 19, 2025, at 16:00 (UTC+8).

ChainCatcher news, according to the official announcement, Binance has announced that it will launch StraitsX USD (XUSD) at 16:00 Beijing time on March 19, and open the XUSD/USDT spot trading pair.XUSD is a stablecoin pegged to the US dollar, issued by the licensed major payment institution StraitsX.

ChainCatcher news, Securitize previously proposed to use BlackRock's BUIDL token as collateral for the Frax Finance USD stablecoin, a proposal that has been approved by the governance department, paving the way for the launch of the frxUSD stablecoin. BUIDL will serve as the collateral asset for minting and redeeming frxUSD.According to the statement, the stablecoin will be exclusively backed by assets held in BlackRock's BUIDL, which are invested in cash, U.S. Treasury bills, and repurchase agreements. Frax Finance founder Sam Kazemian stated in a press release, "FrxUSD combines the transparency and programmability of blockchain technology with the trust and stability of BlackRock's core treasury products."