MetronomeDAO2026-10-09 06:40:52MetronomeDAO plans to move protocol liquidity to Aero at launchMetronomeDAO said it plans to migrate protocol-owned liquidity to Aero when the platform goes live. A video attached to the project’s post indicates the assets involved are msUSD and msETH. Foresight News noted that Aero is scheduled to launch on Oct. 21 and is positioned as a unified liquidity layer for Ethereum. On its first day, Aero is set to cover Base, Ethereum mainnet, OP Mainnet, Arc, Ink, Robinhood Chain and Arbitrum. The update ties MetronomeDAO’s liquidity plan directly to Aero’s upcoming rollout and identifies the two assets shown in the migration materials. No further details on the size of the liquidity or the migration process were disclosed in the provided information.260
Metronome2026-07-31 20:30:56Metronome reports $15.7 million synth backing gap and points to oracle lag in swap moduleMetronomeDAO said about 6,367 msETH and 4.57 million msUSD in circulation are not backed by collateral, leaving a gap worth roughly $15.7 million at current prices. In a July 30 post-mortem, the protocol said trading bots spent months exploiting delayed price updates in its swap module, buying whichever synth was mispriced by stale Chainlink ETH/USD data. The shortfall represents about 31% of all msETH and 16% of all msUSD outstanding, and Metronome said any realized losses would fall on liquidity providers in pools on venues such as Curve and Aerodrome. The team said the issue is limited to the swap module, while its Morpho lending markets, MetBasis product, and core minting system continue to operate normally. Metronome has raised synth swap fees to suppress volume, built treasury-backed defensive positions, and said a roughly 30% drop in msETH or msUSD would make those positions profitable enough to buy back and burn all unbacked tokens. If prices do not fall that far, the protocol said interest from more than $51 million in outstanding debt will be used for gradual buybacks until full backing is restored.3790
MetronomeDAO2026-07-31 01:06:57MetronomeDAO says msUSD depeg stemmed from undercollateralized swap moduleBlockaid said MetronomeDAO’s Synth USD (msUSD) traded as much as about 11% below its peg across Ethereum, Base and Optimism. MetronomeDAO later published a post-incident report saying its synthetic asset swap module had become undercollateralized, leaving roughly 6,367 msETH and 4.57 million msUSD without full asset backing, with the impact concentrated in that module. According to the report, the issue was tied to delays in Chainlink price oracle updates during swap execution, while Metronome’s fee design did not fully account for that variable. The team said the situation was more severe on Base. In response, it has deployed more than $34 million in defensive positions and about $6.5 million in "last exit" liquidity. MetronomeDAO said that if the depeg reaches roughly 30%, the protocol would be able to buy back and burn enough assets to close the gap. The team has also raised fees across all synthetic trading pairs and upgraded the protocol to support directionally isolated fee settings. It added that treasury buybacks and synthetic asset burns will take priority in restoring 100% collateralization, while MET holder interests and the MET buyback and distribution plan will remain unchanged.2170
Main Street2026-07-25 10:45:17Main Street says protocol coverage is nearing 100%, targets open-market buybacks in about 30 daysMain Street has provided an update on its liquidity and recovery plans, saying protocol coverage, excluding the insurance fund, is now nearing 100% based on current valuations. After reviewing options to provide liquidity to holders, including limited early position unwinds paired with open-market token purchases and burns, the team said legal advice led it to avoid any transaction that would temporarily reduce coverage at this stage. As a result, it cannot proceed with early unwinds or large-scale buybacks for now. According to the maturity schedule, the first meaningful liquidity from the remaining "box" positions is expected to arrive in a little over 30 days. At that point, if updated coverage calculations and market conditions allow, Main Street plans to place limit orders on the open market to buy tokens and permanently burn them. The team is also designing a Morpho redemption mechanism that would restrict transfers of msY in affected Morpho contracts and add a dedicated redemption process to avoid first-come, first-served outcomes and unfairness tied to high accrued interest under prolonged full utilization. The design still requires final legal, technical and security review, along with an independent audit. Foresight News had previously reported that Main Street USD (MSUSD), an algorithmic stablecoin pegged to the U.S. dollar, depegged in June and at one point fell more than 80% to as low as $0.064.2650
Mainstreet2026-06-21 13:52:39Mainstreet Says MSUSD Remains Fully Backed as It Addresses Morpho Liquidity and Proof-of-Reserves IssuesMainstreet said the shutdown of its third-party proof-of-reserves dashboard is an infrastructure and reporting issue, not a solvency issue. The team said the Morpho oracle is expected to pause within 24 hours, while more than $8 million in USDC has already been transferred to the minter to support liquidity and unwinds.610
Mainstreet2026-06-21 13:52:39Mainstreet Responds to MSUSD Depeg Concerns, Says Assets Remain Fully BackedMainstreet said the shutdown of its third-party proof-of-reserves dashboard is an infrastructure and reporting issue rather than a solvency issue. The team said the Morpho oracle is expected to pause within 24 hours, while it works with alternative proof-of-reserves providers, releases USDC liquidity, and prepares to act as a liquidity provider and liquidator of last resort if needed.890
Main Street2026-06-21 11:51:18Main Street’s msUSD Stablecoin Depegs as Value Briefly Plunges About 90%The DeFi protocol Main Street saw its stablecoin msUSD depeg from the U.S. dollar on June 20, with cascading liquidations and a severe liquidity imbalance in the collateral pool driving a collapse of about 90% at one point.610
