[Digital Today reporter Hwang Chi-gyu (황치규)] DeFi protocol Altura announced it will begin an orderly liquidation of its stablecoin yield vault.

According to a recent report by The Block, Altura CEO Ranbir Arora (란비어 아로라) said on social media platform X (Twitter), "In light of ongoing withdrawal demand and the current market mood, we have decided to begin an orderly liquidation of the vault." He said, "Our top priority is to protect user assets and complete redemptions in a fair and transparent manner."

Altura’s vault, which on HyperEVM once recorded up to $39 million in total value locked, operated by allocating stablecoin deposits across multiple strategies such as funding-rate arbitrage, market making and real-world asset positions. Arora said it has begun liquidating all positions, including exchange holdings, private credit and real-world asset strategies, and that some may take time to fully redeem.

The trigger for the situation was Mainstreet’s yield-bearing stablecoin msUSD. msUSD fell more than 70 percent on Saturday. The drop was sparked when Accountable, which provided Mainstreet with a proof-of-reserves service, terminated its service contract. Accountable said Mainstreet failed to meet its verification standards. Accountable also provides a proof-of-reserves service to Altura, spreading fears of contagion.