Stream Finance · interactive mechanism simulation

Deposits mint xUSD, which is looped through curator vaults and rehypothecated as collateral across lending markets — while a slice flows to an opaque off-chain fund manager. Trigger the loss event to watch the depeg cascade.
Depositors USDC in Stream Protocol mints xUSD 1:1 Curator vaults TelosC · MEV Capital Off-chain manager 15% allocation, opaque Lending markets Euler · Morpho · Silo looped 3.0× Contagion / bad debt $0M frozen
xUSD supply
0 xUSD
xUSD price
$1.00
Off-chain manager exposure
$0 M
Contagion debt
$0 M
Parameters — edit me
3.0×
15%
2.0%
1.4/s
Controls

Illustrative simulation. Defaults mirror the researched Stream Finance mechanism (recursive looping ~3-4x, curator vaults, an off-chain fund manager, and rehypothecation of xUSD as lending collateral) but deposit sizes and timing are randomized for visualization — not live onchain data. The "Trigger" button replays the Nov 2025 disclosure of a $93M off-chain loss that depegged xUSD and froze ~$160M across DeFi. Part of The Onchain Experiment Atlas.