Historical bad-debt events

Centrifuge's assessment for RD-F-067 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

Tinlake legacy: Harbor Trade Credit Series 2 pool — all 3 remaining assets in default since April 2023; investors who redeemed in August 2023 could not receive DAI and stopped earning interest. Recovery ongoing via legal proceedings. No evidence of senior (DROP) tranche losses — junior (TIN) tranche absorbed defaults. No bad debt events on V3/V2 LP pools. No protocol-wide socialized loss event.

Sources #

URL
https://gov.centrifuge.io/t/harbor-trade-credit-series-2-ht2drp-redemptions-issue/5798retrieved 2026-04-27
URL
https://medium.com/centrifuge/what-happens-in-an-asset-default-on-tinlake-b50be2e5a363retrieved 2026-04-27

Methodology #

Count and sum (USD) the number of documented bad-debt events where the protocol socialized losses across depositors.

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol centrifuge factor RD-F-067 score yellow collected_at 2026-04-30 21:19:10