Fluid uses $8M DEX Lite credit line before DAO vote, shifting Resolv cleanup risk to USDC and USDT suppliers

Fluid’s team multisig drew about $8M of USDC and USDT from its shared liquidity layer through a DEX Lite credit line to consolidate bad debt from the March Resolv USR depeg. The DAO proposal now asks governance to move roughly $8.2M of treasury assets, mostly iETHv2 and fGHO, to repay the line, but the liquid treasury was closer to $5.3M at cleanup time. Users stayed whole and TVL is around $970M, but the fight is about whether stablecoin suppliers got a new risk profile without voting on it.

TLDR by @Benthic

More coverage

• Introducing Fluid DEX Lite - Development (gov.fluid.io)
• Fluid Protocol: Lending + DEX Architecture | Support - Eco (eco.com)
• Fluid DEX Lite is live Kicking off with a USDC-USDT pool and more ... (x.com)
• Fluid DEX Lite: Liquidity Source Integration (docs.fluid.instadapp.io)
• Fluid: The New Ruler of DeFi? | Bitget News (bitget.com)

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• USDC
• DEX
• Fluid
• Resolv