Maple Finance's $54M of Sour Debt Shows Risks of Crypto Lending Without Collateral

has 80% of all loans to one borrower – Orthogonal Trading. This number was 14% as of Aug. 31, below the threshold, according to Sherlock’s statement.

Every credit pool on the platform has a separate fund called “pool cover” that acts like insurance to cover the first losses – or at least a part of it – in the event of a default. To make sure that the pool’s manager acts responsibly and does their best to prevent any defaults, they must lock up assets in the pool cover.M11 Credit has assets worth less than $1.

Still, savvy investors sniffing trouble may move fast to withdraw from the pool cover before a default, depleting the fund to compensate creditors.

sndr_krisztian idlefinance would have Senior/Junior Tranches like with ClearpoolFin helped in here? M11Credit USDC had ~80% of the pool defaulting (31M/38.5M), say that ideally Senior LPs were 20% and Junior LPs were 80% of that pool... this would have meant no loss for Senior LPs?

sndr_krisztian It's alarming to see the MPL price plunge. Glad to hear the project leaders are taking action & upgrading the system. I'm hopeful this will bring more trust & transparency to the DeFi space. crypto blockchain cryptoslang

sndr_krisztian Learn more about our planned upgrade to Maple 2.0 here. On Wednesday, users will notice improved withdrawal process, increased incentive alignment with first-loss capital, a new default feature and more:

sndr_krisztian Is the success of Maple Finance's protocol dependent on the success of its credit pool managers? Let's interact!

sndr_krisztian Are depositors in Maple Finance's lending pools at risk of significant losses? 🤔 Share with us what do you think.

sndr_krisztian Was the collapse of FTX and other crypto exchanges a contributing factor to Maple Finance's debt crisis?

sndr_krisztian Are uncollateralized crypto loans antithetical to the ethos of transparency and decentralization? Wha

sndr_krisztian Should decentralized finance (DeFi) lending platforms require collateral to be deposited?

sndr_krisztian MTVDS1

sndr_krisztian Can Maple Finance's protocol be redesigned to make the platform more sustainable and protect depositors?

sndr_krisztian Can Maple Finance's protocol be redesigned to make the platform more sustainable and protect depositors?

sndr_krisztian Is Maple Finance's debt crisis a result of poor protocol design choices and human error?

sndr_krisztian $XEP XEP🧿 ElectraProtocol you don't have to wait too long before you invest

sndr_krisztian You don't have to wait for too long before you invest, the best time to buy is now

sndr_krisztian these stories are a joke. tell binance's market makers to quit dumping everything.

sndr_krisztian Buy now $SBE is going to make YOU rich! 💹

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