News Formal

DeFi Risk-Sharing Protocol Nexus Expects Loss on Maple Credit Pool Investment as FTX Contagion Widens

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Nexus Mutual predicts a loss of 2,461 ETH of its initial investment in a wrapped ether credit pool on Maple Finance. More funds appear at risk, as 56% of the pool’s debt is to crypto firms Auros Global and Orthogonal Trading. sndr_krisztian reports

However, more Nexus funds appear to be endangered. Orthogonal Trading’s defaulted debt on Maple’s wrapped ether credit pool amounts to some $5 million . On top of that, embattled market maker Auros Global failed to repay a $3.1 million loan and has another $7.5 million in active loans outstanding from the same pool.

The troubled debt represents 56% of the $27.8 million outstanding debt in the wETH credit pool, according to . Only $3.1 million in cash deposits are not actively tied up in loans, which limits Nexus’ ability to withdraw funds. Maple has a 10-day waiting period before depositors can withdraw capital.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nexus Mutual moves to divest, expects $3 million loss with Maple FinanceNexus Mutual is exposed to Orthogonal's Trading default on Maple Finance for a $3 million loss and seeks to withdraw ETH reserves. Surprise surprise 😂
Source: TheBlock__ - 🏆 464. / 53 Read more »