Relend Network

Lend. Relend. Repeat.

Stablecoin Credit Infrastructure for Every Chain.

[Relend Network @relend_network]

Given recent incidents involving LayerZero, we have decided to shut down all Relend bridges.

Circulating supply on L2s is now very small. Users who wish to redeem before June 1 should contact us on Telegram.

After June 1, we will no longer facilitate redemptions for anyone who did not hold rUSDC before that date.

[Relend Network @relend_network]

📢Relend Network is shutting down on June 1st.

If you still hold rUSDC on Starknet, Swell L2, or HyperEVM, bridge back to mainnet and redeem for USDC ASAP.

Only dust amount remains in circulation (the rest is held by the protocol itself), but all funds must be redeemed before June 1st — frontend and bridge support will be terminated afterward.

[Relend Network @relend_network]

📢Relend Network is shutting down on June 1st.

If you still hold rUSDC on Starknet, Swell L2, or HyperEVM, bridge back to mainnet and redeem for USDC ASAP.

Only dust amount remains in circulation (the rest is held by the protocol itself), but all funds must be redeemed before June 1st — frontend and bridge support will be terminated afterward.

[Relend Network @relend_network]

Elixir is offering 80% recovery to all affected Morpho users. Relend Vault users are encouraged to carefully review the terms and conditions of the offer, and act accordingly.

[Elixir @elixir]

Elixir has worked with curators to make available funds to lenders affected by Stream’s open borrow positions on lending markets. Affected lenders can now recover USDC at the following link: https://t.co/7InUWHlbWt

For any issues, please open a ticket in our Discord. Please check the page as soon as possible as claims will only be available for a limited time.

[Relend Network @relend_network]

@CryptoButtie @network3_ai your rUSDC loan on Euler (swell L2) has very borrow rate, please repay it before your collateral gets liquidated.

[Relend Network @relend_network]

We prepared a snapshot of the debt user owned at the defunct sdeUSD/USDC market when it was removed from the vault.

All affected users please make sure your address is included in the list https://t.co/pSkfeEYQuH and the USDC amount makes sense.

Please reach out to us on telegram if not.

[Relend Network @relend_network]

Notice to Relend USDC Vault depositors:
Relend Network’s risk curator has initiated a transaction to force-remove the defunct sdeUSD/USDC market. Execution is subject to a 3-day timelock. Following execution, supplier balances associated with this vault will be reduced by approximately $4.4M in total, representing currently around 50% of the affected users’ balances.

A snapshot of all affected suppliers will be taken. Should funds later be recoverable from this market, any recovered value will be distributed to impacted users on a pro-rata basis.

This action is necessary due to Morpho’s accounting system, which cannot isolate the interest accrual of the defunct sdeUSD/USDC market from other active markets. Without this removal, the bad debt could continue to increase over time, even if Elixir were to eventually facilitate full debt repayment.

Users should note that, while withdrawal liquidity is currently unavailable, it remains technically possible to migrate the position to a personal account and pursue recovery independently via Elixir. This process is complex and requires deep technical knowledge. Interested users are advised to contact the Morpho team for guidance.

Final line of thread: No guarantee of recovery. Informational only. Not legal, financial, or investment advice.

[Relend Network @relend_network]

@FiliusJff There was an attempt to socialise the debt, but by the time the timelock expired, 99% of available liquidity was already out.

[Relend Network @relend_network]

Notice to Relend USDC Vault depositors:
In approximately 24 hours, around 13/11/2025 12 PM UTC, we will officially remove the defunct sdeUSD/USDC market.
As a result the reported value of user deposits will be very close to $0.
Should funds later be recoverable from this market, any recovered value will be distributed to impacted users on a pro-rata basis. Whether this will be done via the vault contract or via offchain settlement remains to be seen. And therefore, after the market removal, we recommend users not to redeem their share in the vault.
This action is necessary due to Morpho’s accounting system, which cannot pause the interest accrual of the defunct sdeUSD/USDC market. Without this removal, the bad debt could continue to increase over time, even if Elixir were to eventually facilitate full debt repayment.

Users should note that, while withdrawal liquidity is not possible, it remains technically possible to migrate the position to a personal account and pursue recovery independently via Elixir. This can be done by supplying yourself USDC to the defunct market and withdrawing the equivalent amount from the vault in a single transaction (e.g., by transferring your position to a @safe and batching the two operations together). This operation is not recommended and will not result in an immediate fund rescue. It will only allow you to pursue an independent rescue effort with Elixir.

Disclaimer: No guarantee of recovery. Informational only. Not legal, financial, or investment advice.

[Relend Network @relend_network]

Notice to Relend USDC Vault depositors:
Relend Network’s risk curator has initiated a transaction to force-remove the defunct sdeUSD/USDC market. Execution is subject to a 3-day timelock. Following execution, supplier balances associated with this vault will be reduced by approximately $4.4M in total, representing currently around 50% of the affected users’ balances.

A snapshot of all affected suppliers will be taken. Should funds later be recoverable from this market, any recovered value will be distributed to impacted users on a pro-rata basis.

This action is necessary due to Morpho’s accounting system, which cannot isolate the interest accrual of the defunct sdeUSD/USDC market from other active markets. Without this removal, the bad debt could continue to increase over time, even if Elixir were to eventually facilitate full debt repayment.

Users should note that, while withdrawal liquidity is currently unavailable, it remains technically possible to migrate the position to a personal account and pursue recovery independently via Elixir. This process is complex and requires deep technical knowledge. Interested users are advised to contact the Morpho team for guidance.

Final line of thread: No guarantee of recovery. Informational only. Not legal, financial, or investment advice.

[Relend Network @relend_network]

Due to the recent uncertainty surrounding sdeUSD-backed loans, Relend Network has paused all new deposits to the Relend Vault.

We anticipate it may take time before there’s clarity on the situation. Even if resolved, withdrawals for vault suppliers could remain delayed for a long time.

We’re actively monitoring developments and remain available for questions in our Telegram group.

[Elixir @elixir]

Elixir has worked tirelessly over the previous 48 hours and has successfully processed redemptions of 80% of all deUSD holders thus far (not including Stream).

As it stands now, Stream holds roughly 90% of the deUSD supply (~$75m), while Elixir holds a similar proportion of its remaining backing as a Morpho loan to Stream.

All remaining holders of deUSD and sdeUSD will be able to redeem for a dollar.

To protect the interest of these holders (and remove any risk of Stream liquidating deUSD before repaying their loan), a snapshot has been taken of all remaining deUSD and sdeUSD holder balances, and a claim page will go live later today. These parties will be able to claim USDC.

As a part of this, the mint/redeem infrastructure has been turned off, and we will be sunsetting deUSD in the near future. Any affected LPs in AMM pools or lending markets will be able to claim the full value of their position.

Given that Stream comprised of 99%+ of the lending positions (and has decided to not repay or close positions), we will work with Euler, Morpho, Compound and the curators moving forward to help distribute repayment of the Stream loan to liquidate these positions. We still believe this will be honored 1 for 1.

We will follow up to this post later today with claim page information.

[Earnbase @EarnbaseFinance]

TOP 16 USDC real yield sources in August 2025

Ethereum Mainnet
1. Relend USDC (Morpho) - 10.67% / $75M
by @relend_network @BlockAnalitica

2. Alpha USDC Core (Morpho)- 10.66% / $18.7M
by @0xAlphaping @GabeWeide

3. f(x) Protocol (Morpho) - 10.61% / $3.6M
by @protocol_fx @Re7Labs

4. Hyperithm USDC (Morpho) - 10.44% / $80M
by @hyperithm

5. TAC USDC (Morpho) - 10.28% /$22M
by @nine_summits

🟦 Base

1. Arcadia USDC Pool - 16.5% / $4.7M
by @ArcadiaFi

2. 40 Acres USDC - 15.8% / $10M
by @40acres_Finance

3. ExtraFi Lend - 10.2% / $6.8M
by @ExtraFi_io

4. Extrafi XLend USDC (Morpho) - 9.99% / $10.9M
by @gauntlet_xyz @ExtraFi_io

5. USDC Autopilot - 9.68% / $3.56M
@harvest_finance

🔴 Avalanche
1. Re7 Labs Cluster Autocompounder - 13.5% / $3.6M
by @beefyfinance on top of @eulerfinance

2. K3 Capital Cluster (Euler) - 12.12% / $0.5M
@k3_capital

3. Silo Market #129 - 10.09% / $11.7M
at @SiloFinance

🔵 Arbitrum
1. Silo Lender Vault - 14.3% / $200k
by @yearnfi

2. Dolomite USDC Market - 9.69% / $2M
at @Dolomite_io

3. Fluid Lend - 7.76% / $26M
at @0xfluid

Acknowledgement:
APY and TVL are useful indicators, but they don’t tell the full story such as efficiency or scalability of a yield source. Risk parameters, liquidity conditions, and strategy design also play a role in sustainability.

Rates in this post are 30d avg.

We highlight base rates of onchain products, excluding claimable rewards or points programs.

[Relend Network @relend_network]

Eyes on @PelagosNetwork, the execution layer for any blockchain use case. Any Language | Any VM | Any Chain 🔗

[Pelagos Network @PelagosNetwork]

We are excited to announce our new testnet participants!

Meet @relend_network 🤝

1/2

[Web3 Global @web3globalmedia]

📻 #GM - Join us for Wednesday's Web3 Global Talks!

🎙️ Our Guests: @FUSDFinance, @VelarBTC, @totofinance, @TDe_Fi, @hashpack, @SALTLending, @EnsembleCodes, @relend_network, @BitRockChain

Set your reminders 👇

[Turtle @turtledotxyz]

Turtle x @relend_network Update

Relend’s Stone Age Season has officially been put on pause.

As of today, all RELEND unit streaming will be halted until further notice.

For Turtle members, this means your Relend activity already earned you a 25% boost in Season 1, and that boost will remain in your Turtle Deals history.

Relend Season 1 Highlights
• 8 months from launch to $100M TVL, averaging $80M in the past 3 months
• $15M rUSDC to Swellchain and HyperEVM, redeemable 1:1 for USDC on Ethereum
• Relend Vault: 1.3k participants, 14.16M units (avg 10.9K)
• Telegram Quests: 12.8k participants, 25.68M units (avg 2K)
• Vault points worth 30× Quest points

Future boosted opportunities will be listed first on the Turtle Deals Dashboard.

[Relend Network @relend_network]

https://t.co/YTmVBn8w40

[Relend Network @relend_network]

🌐Lend. Relend. Repeat.

[Relend Network @relend_network]

rUSDC - monad testnet 🟪

💡 Monad is Ethereum-aligned, bringing parallel execution to the EVM.

🌀Relend is Ethereum-aligned, providing access to USDC liquidity on Ethereum via rUSDC on Monad.

@monad is active.
Community is engaged.
Builders are operating.

Holders: 10k+
Transfers: 35k+
CA: 0x400a417fedeef43fc5b8be0d8cd6df687847ee8d

[Relend Network @relend_network]

Borrow and lend rUSDC on:
- @FolksFinance
- @peridotprotocol

Use gMON from @MagmaStaking as collateral 🔗

[Relend Network @relend_network]

@NoVaK_811 @kadena_io @Uniswap @MorphoLabs @eulerfinance @VIA_Labs Lend. Relend. Repeat 🔗

[Relend Network @relend_network]

Relend partners with @FolksFinance - Lend and borrow rUSDC on @monad testnet!

rUSDC is now live for users to test 🟪

👉 Folks Finance leverages cross-chain lending infrastructure to borrow and lend across multiple networks.

💲 Relend provides stablecoin credit (rUSDC) into lending protocols on partner chains.

🏦 rUSDC is 1:1 redeemable for USDC on Ethereum mainnet, backed by the Relend USDC Vault ($80M+ USDC)

Lend. Relend. Repeat.