Whats up Fabien? Where is our money? Why you dont pay your debt? Is your company insolvent?
Good day jdvs
The liquidity was provided today ~ 200 000 DAI.
Hi @sbob,
I understand that you want to withdraw but keep the communication courteous - this kind of approach is not appropriate.
Liquidity was provided today of ~ 200 000 DAI.
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Im waiting for months now to recover my fundsā¦ after many promises, today the Issuer payed back half of his debt. If the Issuer is not insolvent, than why he is dont simply paying back his debt? Whats the problem, if the Issuer have the money and is solvent?
Good day SilentBob
Please note, that Issuer provided twice the liquidity in the last 7 days.
First time - 02.07.2022
Second time - 05.07.2022
This is not the correct understanding of the mechanism of withdrawal. The issuer provided liquidity and available liquidity was split between all withdrawal requests.
I would like highly recommend you use an appropriate and respectful tone here. Thank you in advance.
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Again, i try to withdraw my funds since a couple of months, the issues is paying back only part of it since they obv. dont have the money, and you ask me to be respectful? Why you dont request a statement from the Issuer where he explaining why they dont pay off their debts and provide a plan to fully pay back the money they owe us? Where is the respect to your customers here? Why is there no warning on the Tinlake Site for this issuer warning people that this company dont respect the maturity date and let investors wait many months to recover their investment?
Good day Sbob
Yes, correct.
All customers and visitors are always welcomed here and always treated with respect. And this is why we would like highly recommend you use an appropriate and respectful tone.
https://tinlake.centrifuge.io/
All information about each Pool you can find on the page of the specific Issuer.
In case you need more information please contact the Issuer via email or via Forum before making any investment.
Please note that you can find all the essential information:
Senior Apy, Junior Apy, Pool Value, Asset Value, Number of Assets, Average maturity, Average financing fee, portfolio distribution, and repayment status on page of each Asset Originator.
Nobody from the community could advise you anything (nor Centrifuge Team member/Centrifuge Fondation) or warn you except your commercialist officer or your legal financial adviser.
If you have any questions feel free to ask us in any time.
Best regards.
Sry, i couldnt find the Information where the AO mentions he will not pay back his debt months after maturity date, could you help me to find this?
Good day Sbob
Yes, of course.
You can find full information about Tinlake Mechanism here:
As I already wrote above reaching the maturity assets date (+ continuous investment after this date) does not guarantee you immediate withdrawal of your investment at any time, after reaching this date.
Please note that AO has never affirmed any sentence about " will not pay back his debt".
Feel free to ask us if you have any further questions.
I already read this (also the lawyer supporting me in this case from today)ā¦ see point 5:
5. The Borrower pays back the financing amount plus the financing fee at the maturity date of the NFT. This happens either directly on-chain in DAI, or the Borrower does a USD bank transfer to the SPV. The SPV exchanges USD for DAI and pays it to the Tinlake pool. The full repayment of the NFT unlocks the NFT, which is then returned to the Asset Originator where it can be burned.
I respectfully waited many more months after maturity date ended, even if your terms says that the borrower will pay back on maturity date. Now i have enough of the empty promises from this AO, what should be understandable after months and months of waiting and failed promises to repay.
Since the behavior of this AO is not only harming the investors who credited their pools but also the reputation of Centrifuge and Tinlake, you should start demanding a bit more transparency and professionalism from the AO and, most important, to respect the terms and repay the funds on or near the maturity date.
At least they should provide a fully transparent āpost mortemā with what went wrong and also with a plan to fully repay the credited funds which have passed the maturity date.
Hey @sbob,
Iām not from the centrifuge team, but just ācuriousā, were you invested in the series 1 or 3 ? I guess itās the 1 as you are referring to pass maturity dateā¦
On the series 1 some āAssetsā look like they havenāt been repaid in time, while some other areā¦
So this might explain why you were unable to withdraw your fund even if itās past the maturity date (wich from the documentation act as a āsoft lockā)ā¦
Not sure, why the borrower didnāt repaid itās debtā¦ Default ? Tinlake UI Bug ? or maybe i didnāt completely understand what the ādue X days agoā mean ā¦
Would be nice to have an explanation from the team or the AO.
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Good morning SilentBob,
I am reading your messages and understand the source of frustration.
As we have communicated transparently few days ago we are bringing liquidity on chain as the current assets matured.
This is the reason we were able to repay the assets due on July 1st (asset 117) and the one due on the 5th (asset 111).
We are finalizing the repayment of asset 113 (may take up to 24h/36h, the 4th was a bank holiday), this will bring liquidity to a level of 487k dai which would allow everyone waiting for redemption to do so.
As for past assets, you are right, out of the 108 assets successfully repaid in due time (>4M dai redeemed within the last 4months) 7 assets are appearing as late, due to clerical typos.
That being said this anomalies will be corrected within the next 10days as we worked on readjusting those.
I hope this offer enough clarity, please note that my DM remains open.
Kind regards.
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Hello @Fab
Thanks for the clarification about the seven Assets that were late, not trying to bash you up or anything:) but is there some kind of penalties if the repayment is late?
Also, what protection does the investor against this? It looks like even if you were late on the repayment, you were still able to finance some new asset, for example Asset 108 should have been repaid on the 5 April 2022 but even without repaying it you were able to finance another asset the same day as the 108 matured and wasnāt repaid, so itās more a question for the Centrifuge team but at witch point should an AO not be able to borrow money anymore?
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Hi @Sherman,
Overdue assets are not an on-chain blocker for financing new assets. On the other hand, DROP Redemptionās (and then TIN redemptions) are always prioritized over financing new assets. If repayments do not satisfy the needed liquidity to fulfill all redemptions, Issuers then cannot finance new assets.
Currently in the Bling pool with the redemption requests, all repayments go to DROP investor redemption requests first, then TIN investor redemption requests, and then remaining liquidity can be used to finance new assets.
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Hey @sirj
Thanks for the explanation, so in the case of @sbob (although he didnāt provide an exact date) it sound like it was unfortunate timing, he might have asked for Drop Redemptionās after the last asset (Asset 125) was already financed so no liquidity was available to execute his order.
Iām still a bit surprise that no notice was publish here about the Overdue assets, I donāt know if itās confidential or not, but, did the āteamā tried to contact the AO about it or not ?
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@Sherman
thanks for understanding and for your intervention. My DROP redemption was 80+ Days (after 125 was financed), my deposit into the pool was 310+ Days ago.
The main problem here is the lack of information and much worse is that the CFG Team dont demand any actions from the AO to clarify the situation, but blame the investors pretending they dont understand how the mech works and telling them its their own fault for not being able to withdraw, even if their own terms say the opposite.
Had tons of funds in other pools and everything worked as intended, AO repayed within or a bit later than maturity date, terms were respected and everyone was happy.
The last post from this AO was much much better than his previous regarding information. Even if he is talking about anomalies and clerical typos, we now can imagine what happened and that we can hope for a full repayment within the next 24-36h for the overdue deposits.
I really hope we can close this discussion within the next 36h and also wish that Tinlake take actions to protect User-Funds as much as possible, for example by telling potential creditors that the AO didnt honored the maturity date by āXY monthsā, and so onā¦ just a suggestion, im sure they can find much better mechs to warn creditors about the payment practices from specific AOs, so people can evaluate the risk of their investment much better.
Wish you all a nice evening.
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Hi @sbob, yes the system automatically flagged your post as spam for some reason.
I have now reverted it so it should be visible again.
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Thanks, can see the post again 
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Thanks for this message. This kind of communication is really what needed. For me its now clear how this system works.
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Good day Fabian
Thank you for your reply and update about the actual situation.
With your permission, I would like to share my feedback.
I invested in Harbor and CF pool and I really liked and appreciated a monthly summary submitted via email:
Probably this could be a good idea to keep your investors updated about the situation.
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