Insurance coverage active
Maple Finance's assessment for RD-F-089 — scored gray on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
No active DeFi insurance coverage on Maple V2 pools found. Maple's institutional, permissioned, overcollateralized lending pools are not underwritten by DeFi insurance providers (Nexus Mutual, Sherlock, Unslashed) — credit risk is structurally outside DeFi insurance scope. Gray per institutional-lending exemption (not red, as this is not a fixable oversight).
Detail #
Maple V2 pools (syrupUSDC, syrupUSDT, Institutional Secured) are permissioned, KYC-gated, and use overcollateralized institutional borrowers. DeFi insurance providers underwrite smart-contract risk, not credit risk. Nexus Mutual and Sherlock lost money as depositors in Maple V1 pools during the 2022 incident — they were not acting as insurance underwriters but as liquidity providers. Per the agent spec CHRONIC pitfall: 'For permissioned/institutional tokens where DeFi insurance providers structurally exclude these by contract terms, score F089 as gray with curator_note — NOT red. Red would imply a fixable oversight; gray reflects evidence state.' This applies here.
Sources #
- URLNexus Mutual Loses Millions in Maple Finance Credit PoolBlockworks — Nexus Mutual loss as depositor in Maple pools (not insurance underwriter)retrieved 2026-04-27
Methodology #
Determine whether active coverage on Nexus Mutual, Unslashed, Sherlock, or equivalent is in force; record cover size in USD.
See the full factor methodology and distribution across all protocols →