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Lista DAO Faces Vault Liquidation as Utilization Hits 99%

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**Lista DAO’s Lending Vaults Hit 99% Utilization, Triggering Forced Liquidation Across Key Markets**

The DeFi space just witnessed another tense moment as Lista DAO’s lending vaults, managed by MEV Capital and Re7 Labs, reached 99% utilization. This critical threshold triggered a forced liquidation across key markets, raising alarms throughout the decentralized finance ecosystem.

If you have funds deposited across DeFi lending protocols, this is a moment to stay alert. Utilization rates across multiple platforms are now above 90%, signaling tightening liquidity and rising risks.

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### The Warning Signs Before the Liquidation

Lista DAO confirmed that it had been closely monitoring both the @MEVCapital USDT Vault and @Re7Labs USD1 Vault. Collateral assets USDX and SDX were experiencing abnormally high borrowing rates coupled with no repayment activity for several days.

As an on-chain peer-to-peer (P2P) lending protocol, Lista Lending actively engaged both teams to address the worsening situation. However, with borrowing costs spiraling and repayment volumes stalled, the DAO had little choice but to take decisive action.

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### Emergency Vote Triggers Forced Liquidation

Late on Thursday, @lista_dao initiated an emergency one-hour vote (LIP-022) to authorize a forced liquidation of the USDX/USD1 market. This move came in response to the rapidly rising borrowing rates and frozen repayment flows within the vaults operated by MEV Capital and Re7 Labs.

Governance participants quickly cast their votes, with an overwhelming consensus in favor of liquidation.

> “With the ongoing vote showing an overwhelming consensus for YES on LIP-022, we have proceeded with the liquidation process to minimize uncertainty and safeguard the protocol,” Lista DAO shared in an update on X.

The DAO urged both MEV Capital and Re7 Labs to act swiftly and cooperatively to stabilize the ecosystem and protect user assets.

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### Coordinated Effort with Re7 Labs

Lista DAO credited Re7 Labs for their proactive steps in acting in users’ best interests and their transparency throughout the liquidation process.

> “We’ll continue working together toward a smooth and transparent resolution. Their professionalism and openness have been key for the community,” the DAO stated.

The liquidation was actively underway and nearly complete at the time of reporting, with final settlement data still under verification.

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### Inside the Liquidation: What Happened

The liquidation process involved several coordinated steps aimed at unwinding risk and recovering funds:

1. **Liquidation Process:** Nearly all debt positions have been processed, with only a small portion pending verification.

2. **Penalty Fees:** A share of liquidation penalty fees has been automatically collected under Lista DAO’s account. These funds will later be used to repurchase collateral once calculations are finalized.

3. **Public Liquidation Pool:** Remaining unliquidated positions have been moved to a public liquidation pool, opening participation to the broader community.

4. **Rate Adjustment:** The USDX/USD1 market interest rate was adjusted to 3% to prevent accrual of unnecessary interest while the liquidation is ongoing.

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### Re7 Vault (USDX Market) — The Numbers

According to official data released by Lista DAO at 20:57 UTC+8 on November 6, 2025, the liquidation activity in the Re7 Vault (USDX Market) showed significant movement:

– **Flash Loan Liquidation:** 3,526,011 USDX liquidated
– **Recovered Funds:** 2,927,163 USD1 recovered
– **Penalty Fees:** Due to oracle price adjustments, a wider price gap led to higher penalty fees. A total of 474,798.48 USD1 was collected as penalties, which will be used to repurchase collateral as part of the recovery process.
– **Remaining Vault Debt:** Approximately 2,090,459.901 USD1 has been moved to the public liquidation zone, now open for anyone to participate.

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### Market Fallout: USDX Depegs to $0.3887

The forced liquidation triggered immediate market turbulence. USDX, the stablecoin tied to the affected vault, depegged to $0.3887 according to on-chain data.

This sharp drop caught the attention of traders and notably one whale. Wallet address 0xe454, frequently tracked by on-chain analysts, spent 800,000 USDT to purchase 933,241 USDX at an average price of $0.8572 shortly after the depeg was noticed.

The whale had already acquired 1.4 million USDX a week earlier and submitted the entire batch for redemption. If the redemption is successful, this trader stands to make approximately $135,000 in profit— a bold play amid highly volatile conditions.

However, three hours later, no confirmation of a successful redemption had been received, raising questions about possible processing delays or liquidity constraints.

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### Lista DAO Reassures Users

In its latest updates, Lista DAO reassured users that fund and collateral recovery remain top priorities. The DAO emphasized that liquidation penalty fees and recovered assets would be strategically redeployed to buy back collateral and stabilize market activity.

Re7 Labs has continued to provide technical support, while community members are encouraged to participate in the public liquidation pool to help clear remaining positions.

> “This is a collective effort to restore stability. The process is transparent and ongoing,” the DAO added.

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### A Broader Warning for DeFi

While Lista DAO’s situation is currently being managed, the event highlights a larger concern within decentralized finance: liquidity strain and over-leveraged vaults.

With utilization rates on many DeFi platforms exceeding 90%, similar risks may arise elsewhere. Analysts warn that tight liquidity can amplify depeg events, trigger forced liquidations, and severely test the resilience of lending protocols.

The message is clear: monitor utilization levels closely, follow vault activity, and ensure collateral positions remain within safe thresholds.

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### What’s Next?

As the liquidation wraps up, all eyes remain on the USDX redemption process and whether Re7 Labs and MEV Capital can fully restore peg stability.

For now, Lista DAO’s swift response and transparent communication have helped contain panic and maintain community trust. Nonetheless, this incident serves as a stark reminder of how quickly conditions can deteriorate within DeFi markets.

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**Disclaimer:** This article is for informational purposes only and does not constitute trading or investment advice. Always conduct your own research before buying any cryptocurrency or investing in any financial services.
https://themerkle.com/lista-dao-faces-vault-liquidation-as-utilization-hits-99/

Apocalypse behind a paywall

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When a society collapses, where do the billionaires go? In *Billionaires Bunker*, the new Spanish thriller series from *Money Heist* creators Alex Pina and Esther Martinez Lobato, the answer is: down. Deep underground into a luxury shelter built to preserve wealth, power, and the illusion of control in a world on fire.

But what happens when you seal off the rich and powerful together with their secrets, grudges, and paranoia? Netflix’s eight-part series attempts to find out.

Set in the opulent, high-tech confines of the Kimera Underground Park, the show introduces us to two billionaire families who take refuge there as the threat of nuclear war looms. From the first episode, *Billionaires Bunker* establishes a stylish yet tense atmosphere—part psychological thriller, part social commentary, and part mystery box. It is *Succession* meets *Lost*, with a dash of *Severance* in its tone and sense of isolation.

### A Timely and Potent Premise

The show’s central premise is both timely and potent: in an age of climate catastrophe, pandemics, and geopolitical instability, the notion of the ultra-wealthy buying their way out feels uncomfortably real. From doomsday preppers to tech moguls investing in bunkers, this isn’t just speculative fiction—it’s a dramatised distillate of fears rooted in reality.

*Billionaires Bunker* leverages anxiety and tension effectively, using an enclosed setting to explore themes of privilege, guilt, denial, and moral decay.

### Characters and Dynamics

The ensemble cast is led by Max, recently released from prison and reluctantly returning to his powerful family as they descend into the shelter. His outsider status offers viewers a grounded perspective on the moral rot of those around him.

Opposite him is Minerva, the enigmatic administrator of Kimera, whose icy professionalism and ambiguous motives give the show its cool, unsettling edge. The two families, each with their own skeletons, rivalries, and traumas, become the battleground for personal and philosophical clashes.

### Intrigue and Atmosphere

The series excels in its early episodes, establishing intrigue through cryptic rules, questionable leadership, and vague inconsistencies in the world outside. Viewers, like the characters, start asking: Is the threat real? Are they safer underground? Or is this a prison for the wealthy?

These questions make the first half of the show, driven by a strong sense of paranoia and claustrophobia, compelling.

Visually, *Billionaires Bunker* is sleek and effective. The production design of the bunker itself is stunning—clean lines, cold lighting, and a sense of curated perfection that slowly becomes oppressive. The contrast between the supposed comfort and mounting psychological tension is smartly used. Cinematographer Migue Amoedo, also of *Money Heist* fame, gives the series a polished, cinematic look that supports the suspense without becoming sterile.

### Flaws in Writing and Plot Development

The show’s biggest flaw emerges as it progresses: for all its atmosphere and thematic weight, the writing falters. Characters begin as archetypes—the guilt-ridden son, the ruthless matriarch, the manipulative administrator—but not all evolve beyond those roles. Dialogue, especially during emotional confrontations, sometimes slips into melodrama or cliché, undermining the complex moral terrain the show attempts to explore.

The mystery element, compelling at the beginning, becomes increasingly convoluted. Instead of deepening organically, twists are introduced rapidly and with uneven payoff. What begins as a taut, intelligent drama veers into more sensational territory in the latter half. Some plot developments feel more like narrative gimmicks than earned revelations.

### Strong Performances and Notable Characters

That said, performances are strong across the board. The cast, though mostly unfamiliar to international audiences, brings intensity and nuance to roles that sometimes lack depth on paper. Max’s internal conflict and Minerva’s controlled detachment are particularly watchable.

A few secondary characters, especially Asia—a teenage girl whose disillusionment mirrors the audience’s—bring fresh energy and perspective as the series unfolds.

### Themes and Philosophical Undercurrents

The show’s moral and philosophical undercurrents are its most compelling elements. *Billionaires Bunker* asks questions worth sitting with: What does safety mean when it is bought? Is survival ethical when it is exclusive? And at what point does the illusion of control become another trap?

These are rich themes, and while the show does not always answer them with subtlety, it raises them in ways that resonate long after the credits roll.

### A Study of Privilege, Psychology, and Social Issues

*Billionaires Bunker* dramatises how psychology and social issues intertwine when privilege collides with crisis. The series highlights the psychological defenses of the ultra-rich—denial, paranoia, and entitlement—as they retreat underground to preserve their survival while the rest of the world supposedly collapses.

Within the bunker, social issues like class inequality, exploitation, and mistrust become magnified, showing how wealth cannot shield people from power struggles, anxiety, and moral corruption. The illusion of safety exposes how privilege fosters a distorted reality, where billionaires cling to control through fear and manipulation.

From a psychological perspective, the confined space acts as a pressure cooker, revealing how group dynamics, ego, and survival instincts can fracture even the most luxurious of sanctuaries. This makes the show both a critique of social inequality and a study of human behavior under an imagined apocalypse.

### Final Verdict

*Billionaires Bunker* is a series that nearly matches its ambition. It is a bold attempt to blend psychological drama with social critique, packaged in a gripping, high-stakes thriller format.

It doesn’t always land cleanly—occasionally, the writing slips and the plot twists strain belief—but it remains a visually engaging, thematically provocative ride. While not as tight or emotionally precise as *Money Heist*, *Billionaires Bunker* is a worthy entry in the growing genre of dystopia for the rich.

It is best enjoyed not for airtight plotting, but for the questions it asks about wealth, survival, and the walls we build—literal and metaphorical—to keep the world at bay.
https://www.thenews.com.pk/tns/detail/1348573-apocalypse-behind-a-paywall