Mainstreet: MSUSD Assets Remain Fully Backed, Measures Being Taken to Restore Stability

Mainstreet responded to the MSUSD de-pegging issue on platform X, stating that the assets remain fully backed and the issue is not related to asset loss or insolvency. Mainstreet is in the process of integrating with a new proof-of-reserves provider to restore independent verification, redeploying liquidity to the minter/Morpho ecosystem, and preparing to intervene as the ultimate liquidity provider and liquidator. Mainstreet's core objective is to protect NAV and maximize protocol liquidity. If rising borrowing rates trigger liquidations, Mainstreet is prepared to act as the final liquidator to mitigate bad debt risks. Due to limited market liquidity over the weekend, the speed of asset withdrawals has been affected. Mainstreet will continue to provide updates and reminds users to trust information only from official channels.