Stream Finance launches creditor registration to advance the "Global Reconciliation" process

According to The Defiant, the defunct DeFi yield protocol Stream Finance has begun collecting potential creditor information through an online form in preparation for "potential global solutions." Stream first revealed its intention to liquidate in May. The debt structure is complex: direct holders of xUSD, xBTC, and xETH are one class of creditors, while institutional lenders (curators on Euler, Morpho, Silo, Gearbox) accepting Stream tokens as collateral are another.

Research institution Yields and More estimates the direct debt exposure to be approximately $285 million, with the largest curator TelosC accounting for about $124 million and Elixir for about $68 million (which represents 65% of its deUSD stablecoin reserves). Stream has collected claims information but has not committed to a specific compensation plan, and the priority of creditors has yet to be determined. Stream is also involved in legal disputes with former operator Caleb McMeans.

Last November, Stream disclosed that external fund managers had lost approximately $93 million in assets, leading to the de-pegging of xUSD and freezing about $160 million in deposits. xUSD is currently quoted at approximately $0.08, down about 92% from its pegged price.