cryptonews.net
The Harbor Trade credit pool minted approximately $1.5 mln worth of DAI stablecoins from MakerDAO and backed them with loans provided to the consumer electronics firm. The borrowing firm was unable to repay a $2.1 mln debt that expired in April.
According to MakerDAO, Harbor Trade is "actively engaged in the workout process" and predicts a "meaningful or full recovery," but the procedure could take six months or more. The MakerDAO community has decided to stop lending to the Centrifuge Protocol tokenized credit pool after accumulating $2.1 mln of debt.
In a governance vote that ended Thursday, voters voted unanimously to end additional lending to a struggling credit pool run by fintech firm Harbor Trade.
Image: Shrimpy Academy