Crypto Lending Agreement Wildcat says Kinto default will not pose a "contagious risk" to outstanding loans

Wildcat Labs confirmed that its platform had its first default after Kinto’s Ethereum Layer 2 and modular exchanges closed because its assets were insufficient to repay Kinto Phoenix Facility’s $1.55 million debt. Kinto’s recovery plan, including issuing new tokens and raising $1 million, failed to receive further financing after a vulnerability drained the lending pool in the summer. Lenders will recover 76% of their principal from the remaining foundation assets and withdraw them in proportion after September 30. Wildcat stressed that the default was limited to the facility and would not create a spread risk to its $150 million outstanding credit.