Gate News message: On April 9, the quant yield protocol Axis announced the launch of a synthetic U.S. dollar USDx and completed its first minting, with a size of 10 million US dollars. It is currently in a private testing phase. After minting is completed, USDx will be deployed to Axis’s market-neutral arbitrage engine, covering more than 40 trading venues, to provide liquidity and capture opportunities from market price spreads.

Gate TradFi Zone officially opens on the Web, ending the public beta and achieving multi-terminal coverage. The platform supports CFD trading of various traditional financial assets with low transaction fees. Since its launch, trading volume has exceeded $20 billion, and celebration activities and rewards distribution are underway.

The Gate Research Institute's report "Gate TradFi Macro Multi-Asset One-Stop Coverage" states that as trading demand shifts towards macro multi-assets, Gate TradFi utilizes MT5 to offer diversified traditional asset CFD trading, supporting a no-expiry, no-delivery trading model, and conveniently enables users to participate in trading within the USDT system through USDx.

Gate Exchange Platform expands traditional financial functions by launching CFD trading for assets such as gold, forex, and indices. Users can participate with USDT without any fees, and leverage of up to 500x is available. The platform uses the MT5 system for risk control, offering low fees to attract traders.

OracleX announced that it will go live on December 1st, based on the Proof-of-Behavior mechanism, aimed at solving the current market's scarcity trading issues. Users participate in predictions by staking OEX to mint USDX, dynamically adjusting yields to promote active participation and information contribution.

Odaily News On-chain market data shows that the Yala stablecoin YU has significantly depegged, currently falling to 0.44 USD on the Ethereum Mainnet and to 0.368 USD on Solana. Previously, it was reported that the Yala stablecoin YU encountered suspicious lending situations similar to USDX over the weekend. Yala responded yesterday, stating that it has noted the community's concerns regarding the stablecoin YU and is conducting an investigation.

Odaily News The stablecoin protocol Yala stated that the team has noted the community's recent concerns regarding the stablecoin YU and is conducting an investigation into this matter, with updates to follow. Previous news: The Yala stablecoin YU has exhibited suspicious circumstances similar to USDX, with related addresses borrowing USDC at extremely high interest rates but failing to repay.

Odaily News The DeFi community YAM stated in a post on X that it has observed dangerous signals from the Yala stablecoin YU. An address closely related to Yala is fully borrowing USDC and most of the YU funds from the Yala Frontier market on Eulur. Despite the interest rates remaining high, there have been no repayment actions. Currently, the market's capital utilization rate has reached 100%, which means lenders cannot withdraw any liquidity. The Euler team has also set the borrowing limit for the Yala market on Frontier to zero. It is reported that the Yala team has not responded to either the Euler team or Discord community users. YAM added that currently YU is in

PANews November 9th reported that Re7 Labs released an impact report on xUSD de-pegging, with over $13 million in funds affected by Stable Labs. The report states: 1. Stream-xUSD: Stream's CEO has assured that the financial situation remains stable and unaffected by market events. Currently, Stream has partially repaid loan positions on Plasma and $7 million USDC in Re7 Labs' treasury on Worldchain; at the same time, to prevent further risk exposure, Re7 Labs has transferred all funds from the Earn treasury out of the xUSD market. Additionally, the upper limit of the xUSD market has been set to 0 and it has been removed from Euler Earn.

Stables Labs stated that due to market liquidity and liquidation dynamics, the USDX price deviates from its reference value. The team has initiated recovery plans to provide affected holders with a recovery pathway based on a reference value of $1, including on-chain snapshots and phased progress disclosures.