Stream Finance, the collapsed DeFi protocol behind the depegged xUSD stablecoin, announced it is gathering creditor claims as part of what it calls a path to "potential global resolution." The protocol posted the creditor collection process on X without providing specifics on recovery timelines or expected payout percentages.
The move marks a formal step in handling obligations after xUSD lost its peg. Stream Finance had positioned itself as a yield-bearing stablecoin, but the protocol failed to maintain the 1:1 backing required to sustain that stability. The announcement offers little detail on what assets remain in the protocol's treasury or how claims will be prioritized among creditors holding different tranches of exposure.
Depositors and creditors now face the typical friction point: separating legitimate claims from duplicates, verifying sizes, and determining order of recovery. Without knowing what recoverable assets exist or how they'll be distributed, claimants are largely waiting for more information.
The protocol has not disclosed whether it retains governance tokens, collateral held in other protocols, or treasury reserves that could backstop payouts. The silence around asset inventory is itself telling, as it signals either extensive losses or ongoing disputes about what counts as recoverable.