HONEY on Berachain has been unable to redeem for USDC for a long time, possibly due to the treasury's USDC being exhausted.

According to news from benmo.eth, HONEY on Berachain has been unable to redeem normally for USDC for over 50 hours.

Its official redemption page shows "USDC.e is currently exhausted. Please switch to BYUSD." Currently, HONEY has not shown any significant depegging. $BNB