Stream Finance, the collapsed DeFi yield protocol behind the depegged xUSD token, has begun collecting information from potential creditors and claimants as a step toward what it called a "potential global resolution."
The protocol said in a post on X that it is gathering and confirming claim details through an online form, while cautioning that submitting it "does not establish or confirm any claim, entitlement, or right to payment." It did not give a deadline or describe how a resolution would be structured.
xUSD, the yield-bearing token that was supposed to hold a $1 value, traded at about $0.08 on Monday, roughly 92% below its peg, with almost no volume changing hands, according to CoinGecko. Stream disclosed in November that an external fund manager had lost about $93 million of its assets, a hole that DeFi researchers estimated cascaded into roughly $285 million owed across lending protocols.
The request is the broadest call yet for those affected — retail token holders and institutional lenders alike — to formally register what they are owed, and the clearest sign that Stream is moving toward distributing whatever assets remain after one of the most damaging contagions of the cycle. It stopped short of committing to any payout.
