Following the shutdown of Stream Finance, researchers in decentralized finance (DeFi) have uncovered large sums tied to its lending and synthetic asset activities.
The total amount at risk is estimated to be around $284.9 million, spread across various platforms and tokens.
On November 4, a group called Yields and More (YAM) shared findings showing that many DeFi platforms were connected to Stream’s synthetic tokens, including xUSD, xBTC, and xETH.
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Some of the affected platforms included Euler, Morpho, Silo, and Gearbox.
The report pointed out that the fallout was larger than it first appeared. Assets like deUSD from Elixir and scUSD from Treeve were also involved in lending loops.
These complex structures made it harder to see how much was owed, but the researchers estimated nearly $285 million in debt across 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 around $123 million at risk.
Elixir was reported to have lent $68 million to Stream, which may make up more than half of the assets backing its deUSD token. The firm stated that it holds the right to redeem deUSD at a fixed rate of $1.
However, Stream said any repayments would have to wait until legal teams determine how to divide obligations.
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