Yearn Finance removed liquidity from several Scream markets

05/27 14:55

Yearn Finance tweeted that Yearn removed liquidity from several Scream markets on May 15. Yearn removed $35m in funds from 12 vaults. Yearn vaults have 0 remaining exposure to Scream markets. Yearn will continue to stay close to the situation, and will evaluate providing liquidity according to our risk parameters. No action is required from users. More details will be shared in a full disclosure once Scream markets have been returned to normal operations. Yearn Finance also said that Scream and Deus have both provided excess collateral in the form of over 13 million DEI and 600,000 SCREAM to a multisig controlled by representatives from Yearn, Scream, and Deus as a joint commitment to resolve the situation. Furthermore, Deus has repaid ~1.5m DAI of their original ~$10.5m borrow, and have committed to steadily repay the remainder of their outstanding borrow in a timely manner. In collaboration with the Fantom Foundation, more than 13m fUSD has been liquidated on Scream and outstanding borrows against the fUSD repaid. For the remaining fUSD on Scream, liquidations are running and bad debt is rapidly being repaid.

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