Nexus Mutual Expects to Lose About $3M, or 1.6% of Total Assets, in Maple Finance Lending Pool

DeFi insurance platform Nexus Mutual updated its exposure to M11 Credit’s wETH lending pool on Maple Finance, predicting that Orthogonal Trading’s recent default could result in a loss of 2,461 ETH (approximately $3 million), accounting for approximately 1.6% of Nexus’ assets. At present, Nexus Mutual has begun to withdraw all funds from the affected ETH lending pool. There is a 10-day waiting period before any funds can be withdrawn. “This will not affect Nexus Mutual’s daily operations or ability to pay claims. 1.5%-2.6% of Foresight News previously reported that in August Nexus Mutual began deploying $29 million in funds to Maple Finance to earn revenue.