Emergency Liquidation Vote Underway as USDX Vaults Face 800% Borrowing Rates

Key Events:

Lista DAO initiated an emergency governance vote (LIP 022) on Nov. 6, 2025, to enforce liquidation in the USDX market involving vaults by MEV Capital and Re7 Labs. This vote is open until Nov. 9 at 12:12 PM.
The vote aims to address high borrowing rates in vaults where collateral assets $sUSDX and $USDX show no repayment activity.
The forced liquidation intends to minimize potential losses and maintain stability in the on-chain peer-to-peer lending ecosystem.

Timeline:

9:23 AM UTC: Lista DAO reported 800% borrowing rates in certain vaults with no repayments from major borrowers linked to Stables Labs.
10:55 AM UTC: Re7 Labs proposed a plan for forced liquidations; Lista DAO acknowledged this and prepared a governance vote.
11:08 AM UTC: PancakeSwap monitored the situation and advised users to check their positions in affected pools.
11:15 AM UTC: Emergency governance vote launched to adjust oracle prices and trigger asset liquidation.
11:50 AM UTC: MEV Capital implemented measures like setting allocation caps to zero due to elevated borrow rates.

The outcome of the vote will decide if Lista DAO proceeds with the oracle override and forced liquidation process. Immediate actions might be taken if abnormal conditions are detected before the voting concludes.