30min after the tweet deUSD depeged by 90%. Market is dead. Taking a screenshot of the allocators to see if degenerates will allocate to the market directly (which I assume will happen, helping curators remove some funds). If this doesn't happen the vaults will have to force removal of the markets and take the loss. The Steakhouse vaults are not exposed to the markets but rates will jump everywhere the affected vault have liquidity. This will only impact Smokehouse USDC. We will make the best to have enough liquidity for people wanting to exit. We suggest borrowers to swap their loan to USDT or any other lending platform. Steakhouse USDC and all the other mainline vaults will not see any impact.(Sébastien Derivaux)