Maple Finance’s M11 Pool Investors Can Expect Full Debt Repayment

After missing at least two loan repayments, market maker Auros has reached a resolution with creditor M11 to make liquidity providers on Maple whole


Source: Shutterstock / WindAwake, modified by Blockworks


Embattled crypto market-making firm Auros Global has reached a resolution with its primary creditor to fully repay its debt following hardship brought about by FTX’s collapse last year.

The firm’s liquidity woes were one factor leading DeFi credit platform Maple Finance to rethink how it will handle bad loans going forward.

M11 Credit, the credit solutions arm of blockchain investment company M11 Group, said in a statement Wednesday, that Auros intends to make its liquidity providers on Maple Finance whole “over time.”

Around 55% of Auros’ debt pertaining to both the M11 Credit Permissioned USDC and M11 Credit wETH pools on Maple has been paid back, while a further 40% of the outstanding debt has been reissued for a maximum of nine months.

Roughly 5% of the outstanding debt has been reissued for a maximum of 90 days at 0% interest as a short-term facility, the statement reads.

“The above outcome is the result of months of productive discussions with Auros,” M11 said.
“The M11 Credit team were in constant communication and negotiations with Auros and other creditors as they worked to strengthen their balance sheet.”

Auros missed two of its loan repayments to M11 on Nov. 10 due to funds being trapped on FTX’s platform, which sapped liquidity and forced the company into provisional liquidation. 

The “light touch” liquidation, implemented on Nov. 24, allowed the firm to restructure its debt under the supervision of a court-approved advisory firm.

In a bid to shield the interest of all liquidity providers in the affected M11 Credit Pools, M11 took measures a month later to preemptively impair all of Auros’ loans and reduce the market maker’s exposure to Maple.

The credit solutions arm also said it was “unfortunate” the same outcome had not been reached with defunct digital asset trading firm Orthogonal Trading, which also entered into provision liquidation following November’s market woes. 

M11 Credit is currently engaged in the recovery of $36 million in unpaid debt on Maple from the trading firm. Auros and M11 did not immediately respond to requests for comment.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg


In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.


BUZZ holds shares of Coinbase, Robinhood and MicroStrategy


Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile


The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally


While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders


Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume


DeFi on Bitcoin is all the rage right now and Stacks is positioned to benefit