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Curve Governance Alert: Community Eyes Shutdown of Elixir Gauges Over Stablecoin Collapse

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Curve’s LlamaRisk team just dropped a proposal that could cut off CRV token emissions to Elixir-related pools. Here’s why it matters:

The Problem: Elixir—the protocol backing synthetic stablecoin deUSD and its staking derivative sdeUSD—officially stopped minting and burning tokens between November 6-7, 2025. The reason? Their main trading partner Stream Finance went under.

What’s at Stake: Disabling the Elixir market gauges would halt CRV emissions flowing into those pools. Essentially, Curve governance is asking: why keep rewarding pools tied to a stablecoin system that’s already dead?

The Bigger Picture: This is a classic DeFi domino effect. When one protocol’s foundation cracks (Stream Finance), it cascades through its entire ecosystem. Curve shutting down these gauges shows the community is being proactive about not throwing emissions at dead weight.

Expect this proposal to move through Curve’s voting mechanism soon. LlamaRisk typically doesn’t flag stuff unless it’s genuinely risky.

CRV-9.79%
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