Treasury discussed on Bankless



So these are smaller numbers than some of the numbers that we've heard about. But is maple gonna be fine? Are they going to recover from this? Is this part of can the ship? I don't know. I don't know the answer to that. I think we need this to have a play out a little bit more. But that's actually not where this story ends, because nexus mutual also had some money inside of maple finance. So nexus mutual, which is an insurance smart contract and insurance platform on Ethereum, lost $3 million due to this exposure. So they were in one of those same pools. They were in the ether pool. So they got hit. Why would they in it? This just part of treasury management. Wow, so this wasn't even part of the nexus protocol. It wasn't like a hack that went bad and that they had to kind of provide insurance for it. It was like, we have some treasury funds, and we're going to put it here in order to get higher yield and the cost to them was $5 million, $3 million for that. 3 million dollars. 1.6% of all of nexus mutual assets. Wow, treasury management, very important to get these risks into the market, huh?

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