Sherlock anticipates a $4M loss for its stakers, from the troubled loans on Maple Finance.
Sherlock previously deposited $5 million in USDC of its staking pool onto the credit pool of Maple.
Sherlock, a crypto auditing platform, anticipates a massive loss from the troubled loans on the blockchain-based institutional capital marketplace, Maple Finance. In a recent blog post, Sherlock predicted a $4 million loss for its stakers, or roughly one-third of the capital in its staking pool, due to Orthogonal Trading FTX-induced loan defaults on Maple Finance.
The platform stated that, in August, it had deposited $5 million USDC of its $12 million staking pool to the credit pool on Maple, managed by M11 Credit.
Will Stakers Witness a Massive Loss?
Due to Orthogonal Trading’s insolvency, this week saw the default of $31 million in credit pool loans. 80% of the credit pool’s outstanding loans are made up of bad debt. However, when Sherlock invested in the pool, Orthogonal’s borrowings acc
We współpracy z: https://thenewscrypto.com/sherlock-forecasts-a-4m-loss-from-maple-finance/
