1/ Alameda previously borrowed hundreds of millions of $ from DeFi
Now they are facing a liquidity crunch (or worse), putting their unsecured creditors at risk
Here's what their DeFi debt obligations are now π§΅
Now they are facing a liquidity crunch (or worse), putting their unsecured creditors at risk
Here's what their DeFi debt obligations are now π§΅
2/ $7.28M from their @TrueFiDAO pool
They successfully made interest payments a week ago, but the principal comes due in less than 50 days
First sign of trouble will be missed payments due Nov 20
They successfully made interest payments a week ago, but the principal comes due in less than 50 days
First sign of trouble will be missed payments due Nov 20
3/ There's still $4.76M in idle capital here, and seems like depositors are already starting to remove their capital in advance of a possible delinquency
4/ $5.5M from their @ClearpoolFin pools
2 loans originated Sep 15/16 with neither requiring interest payments or having a set maturity date due to Clearpool's mechanism design
Because they are permissioned, we also know the borrowers here: Apollo and Compound
2 loans originated Sep 15/16 with neither requiring interest payments or having a set maturity date due to Clearpool's mechanism design
Because they are permissioned, we also know the borrowers here: Apollo and Compound
5/ They also had a @maplefinance pool that originated almost $300m of loans to them
But no loans are active at the moment
But no loans are active at the moment
6/ Similar story on Maple pools managed by @OrthoCredit and @M11Credit
No outstanding loans despite over $100m originated in the past
No outstanding loans despite over $100m originated in the past
7/ Alameda also borrowed over 20M MIM against over $50M worth of FTT using @MIM_Spell
This is just one of likely countless similar positions in DeFi lending markets, which will likely take minimal losses because of their over-collateralized nature
This is just one of likely countless similar positions in DeFi lending markets, which will likely take minimal losses because of their over-collateralized nature
8/ One can only speculate about loans outstanding from notable lending desks like Genesis, who publicly dealt with significant losses from 3AC
But in DeFi, we can see exactly what the exposures are where
But in DeFi, we can see exactly what the exposures are where
9/ We didn't intend to tweet anything until our public launch next week
But given the situation unfolding, thought we would provide some useful information given our data-enhanced view of the space
Follow us for more upcoming insights like this!
But given the situation unfolding, thought we would provide some useful information given our data-enhanced view of the space
Follow us for more upcoming insights like this!
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If you're an RWA investor, send a DM would love to chatπ
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