Silo Labs updates on xUSD depegging incident, approximately $2.13 million in repayments confirmed so far

ChainCatcher news, Sonic ecosystem lending protocol project Silo Labs posted an update on the X platform regarding the progress of handling the xUSD depegging incident. So far, the confirmed repayment amount has reached approximately $2.13 million, including about $88,169 on the Sonic chain, about $556,669 on the Avalanche chain, and about $1.49 million on the Arbitrum chain.

Previously, the price of Stream Finance's stablecoin xUSD significantly deviated from its target range, affecting on-chain Curated Markets such as Euler, Morpho, and Silo, and resulting in liquidity issues.