Hello Centrifuge Community!!
Short Update Follows:
The Databased Finance 1 (DF1) is currently returning
10%+ Yield on Pool as a whole
8% Yield on Drop
In the past few months, there have been large withdrawals from our pool as FTX has caused our funders to raid their safer piggy banks (our token has held its price with zero defaults). To return these funds, we have required our Amazon sellers to repurchase inventory and pay back capital.
All repurchases have now been successfully executed in order to fulfill redemptions with zero defaults.
If your Drop was part of the redemption, then thank you for the support to date, and we look forward to you coming back to Databased Finance. If you stayed in the pool, then thank you for your continued support.
One seller chose to close out our financing completely - this means there is currently (June 5th 2023) spare DAI in the reserve if you would like to cash in on your returns or make a withdrawal.
The Smart contract will allocate these returns when we close the epoch.
For the remainder of the pool the projected end sales value of our inventory (both Net and Gross) remains above the purchased price we paid i.e. your funding is still over-collateralized in our remaining NFTs (57 and 58).
Administration: Given the drop in value of the pool size we have consolidated all operations into Databased Finance Inc - all new contracts will now be with this entity, and it has taken on the commitments made by Databased Finance LTD to both sellers and funders.
Finally. We are working with Centrifuge to bring a DF2 to life: based in USDC and on the CFG Polkadot chain. We look forward to introducing this to the community soon!
THANKS FOR ALL YOUR SUPPORT