Warbler Labs, the lending pool manager of decentralized lending platform Goldfinch, said that $20 million worth of real-world asset loans were facing losses due to borrower Stratos’ investments in real estate technology companies and digital assets “not performing as expected,” Coindesk reported. risk.
The lending pool provided a $20 million (USDC) stablecoin to fintech credit fund Stratos in February 2022 with a four-year loan at an annual interest rate of 11%. Currently, Warbler Labs revealed that $7 million worth of funds in the lending pool are at risk of loss. Of that amount, $5 million was allocated to real estate technology company REZI, which has stopped payments and expects to write down the position to zero; another $2 million of funds was allocated to "digital asset investments," which Stratos initially did not Unknowingly, the position was sold at a near-total loss and loan collateral was added to cover the shortfall.
Warbler Labs said it will bear all losses for investors in the pool.
The lending pool provided a $20 million (USDC) stablecoin to fintech credit fund Stratos in February 2022 with a four-year loan at an annual interest rate of 11%. Currently, Warbler Labs revealed that $7 million worth of funds in the lending pool are at risk of loss. Of that amount, $5 million was allocated to real estate technology company REZI, which has stopped payments and expects to write down the position to zero; another $2 million of funds was allocated to "digital asset investments," which Stratos initially did not Unknowingly, the position was sold at a near-total loss and loan collateral was added to cover the shortfall.
Warbler Labs said it will bear all losses for investors in the pool.