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Silo Labs Updates Progress on xUSD Depegging Incident, Confirms Repayment of Approximately $2.13 Million
Summary: According to reports, Silo Labs, a project within the Sonic ecosystem lending protocol, has updated the progress on handling the xUSD depegging incident on the X platform. Currently, approximately $2.13 million in repayments has been confirmed, including around $88,169 on the Sonic chain, $556,669 on the Avalanche chain, and about $1.49 million on the Arbitrum ...
According to reports, Silo Labs, a project within the Sonic ecosystem lending protocol, has updated the progress on handling the xUSD depegging incident on the X platform. Currently, approximately $2.13 million in repayments has been confirmed, including around $88,169 on the Sonic chain, $556,669 on the Avalanche chain, and about $1.49 million on the Arbitrum chain.
Prior to this, the stablecoin xUSD's price significantly deviated from its target range, affecting Curated Markets on chains such as Euler, Morpho, and Silo, leading to liquidity issues.
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Link: Silo Labs Updates Progress on xUSD Depegging Incident, Confirms Repayment of Approximately $2.13 Million [Copy]
