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Promote with Leviathan NewsResupply, a stablecoin and yield protocol associated with the Yearn ecosystem, has announced that the roughly $10 million in bad debt created by a recent exploit has now been fully repaid. According to Resupply’s disclosure, about $8.8 million of bad debt linked to the incident was paid down first, with the remaining ~$1.13 million covered via a dedicated loan arrangement with Yearn Finance. This clears the bad debt overhang on reUSD, the protocol’s stablecoin, which had accumulated after the hack. The structure of the final tranche is described in a Yearn governance proposal (YIP-86), which outlines a $1.13 million crvUSD loan from the Yearn treasury to Resupply, carrying 6% APR interest and to be repaid in full. The proposal states that this loan is effectively fronting future protocol revenue, with repayments sourced from revenue generated by Yearn and Convex permastaker positions in staked RSUP, and automatically streamed back to Yearn’s treasury over time. By eliminating the bad debt immediately and shifting the remaining burden to an internal, revenue-backed loan, the arrangement is intended to restore user confidence in reUSD solvency and return Resupply’s markets to normal operation while aligning incentives between Resupply and its major stakeholder, Yearn.
AI-generated background, compiled from web sources — not editorial content.
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