Harbor Trade Credit Series 2 - HT2DRP redemptions (issue)


On August 1, 2023 I redeemed some HT2DRP to get some DAI. Since then, I am still unable to get my DAI and I am not earning interests either on my investment.
Why does it take so long (more than 2,5 months)? Am I doing something wrong?

Thank you.
Kind regards,

Hi @bitm00n

As far as I can see from the screenshot the pool reserve value is Zero and there are no pending investments into the pool. Did you contact the issuer to inquire if there are any new planned investments into Harbor Trade Series 2?

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Hi @Tjure07,

Thank you for your reply. I will contact the issuer, it’s a good idea. I’m pretty surprised it takes so much time because the last time I redeemed, it only took a couple days. But I think it was in early 2022 when there were still more liquidity on the market.

Here below you will find updated screenshots. From what I see, the capacity for HT2DRP is 0.0 DAI. Therefore, I assume no one can invest into this pool?

At the moment their is no pool reserve and you can see there are no orders for investments into the pool. Once the pool received new investments you can withdraw your funds. As well as the pool is “oversubscribed” which shows, there are more withdrawals than investments

Please also take a look into the concept of the “maturity date” which is important when you invest into a Pool. :point_down:

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Previously, the Maker vault was financing redemptions by allowing the issuer to draw more debt from Maker when there was no available cash to meet redemptions. Maker no longer allows this to occur.

All 3 of the remaining assets in this pool have been in default since April 2023. I don’t have the latest update, but my understanding is Harbor Trade is pursuing recovery vs the borrower. How likely that is and what the current status is would be best answered by the issuer.


Thank you for your explanations @Tjure07.

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Thank you for those very interesting explanations @PaperImperium.