Invincible Chest Turns Wild – Invictus In Latin it means indomitable, invincible, even invincible. The word inspired the famous poem named after Englishman William Ermest Henley. This text, symbolizing resilience in the face of life’s trials, was a favorite of Nelson Mandela. It is ironic that financial problems From a South African hedge fund Invictus Capital Indicates the fragility of the crypto lending sector that continues to be affected by Aftershocks of Luna’s fall and her stable home. “I am the master of my destiny”said the poet. But that was before Million dollar debt.
Invictus Capital Stock Finally Dropped $1 Million
October 30 was the deadline to pay off his loan. And the Invictus Capital She did not fulfill her debt contracted with the decentralized loan protocol Trophy. It is denominated in Binance USD and is1 million of dollarsIt has been working since May 3. As a reminder, the privacy of the TrueFi protocol isAbsence sideThat is, the borrower does not pledge anything in return for the money.
Invictus Capital is associated with the company New World Holding Based in the Cayman Islands and announced in Optional Filter during the last summer. Why such an approach? Because all funds associated with the parent company are held Large quantities of underground tanks Terra blockchain stablecoin – partially deposited on the platform percentage grid. And everything went into smoke in a few weeks.
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Unsecured decentralized lending protocols questioned
Beyond the Terra issue, which is covered extensively in our columns, what questions here is a principle free loan. The reliance of a loan on trust and the good financial health of a group currently appears to be a good idea on paper. But when things go wrong, there’s really no Plan B.
Besides, this is not so Not the first time that protocol Trophy With this kind of situation. Last month it was the Korean company blockwater who was missing More than 3 million dollars. It is clear that this principle of lending is widespread in the field of finance Traditional, it is struggling to apply in the more volatile cryptocurrency market. mapleanother protocol of the same kind, had to modify the terms of the loan afterwards 10 million slate Babel Finance left it.
TrueFi has not yet been contacted on the case Invictus Capital that has not yet been subject to a formal notification of default. In the meantime, mentioning Terra’s case should remind us that the crypto ecosystem is young and at times immature and that the refreshing enthusiasm of its community must sometimes be channeled through the wisdom and experience of industry veterans. “This existence is wounded, I stand despite the wounded”wrote the Invictus author, perfectly reflecting the cryptographic misadventures of our companion Rektosaurus. Strictly… Terra (LUNA).
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