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.
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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 😂
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