New loan issued on Maple Solana

We’re excited to announce that a new loan has been issued on Maple Solana by X-Margin to Ledger Prime at an interest rate of 13%. Limited capital in the space is pushing up interest rates and creating a unique position for DeFi in the market.

View the loan details on the WebApp.

Changes to MPL Lending Rewards

On July 31st 2022 changes to MPL Lending Rewards will come into effect. This update to rewards is part of a continued effort to taper our MPL rewards program over time and ensure that the token is being used to incentivise the growth of the platform.

These changes include:

• Rewards will not be earned for Lenders requesting withdrawals

• Lenders will receive rewards via airdrop at the end of each month

• Applicable to the Maven 11 USDC and Orthogonal USDC pools the reward rate for August will be 2.5%

The amount of MPL rewards will be calculated at month-end based on:

• Lender not requesting a withdrawal during that month

• Pro-rata share of lending balance in pool

• USD price of MPL on the last day of the month

Q2 2022 Treasury Report

We released the Q2 2022 Treasury Report this week. Maple continued to generate revenue through the largest crypto market contraction of the last 5 years, returning $17 million in interest to lenders and began to share growth with protocol participants through xMPL.

The platform originated $414M in loan volume across 40 new loans, down from $618M loans across 56 new deals in Q1. Despite the reduction in month on month volume, the platform continued to gain momentum throughout Q2 with total loans issued to date coming to over $1.5 billion.

Further highlights include two new pools being opened on the platform – Genesis launched a private pool and X-margin opened a public pool, both on Maple Solana. The protocol also finished the quarter with $755 M in TVL. On May 30th we launched xMPL, of which 38% of circulating MPL has been staked.

View the visual report.

Dive into the full article.

In Joe’s second interview on Token Terminal 15-minute Fundamentals, he talks more about Q2 highlights, the launch of xMPL and expanding to Solana.

Watch here.

Q2 2022 Founder Update

This week Sid shared a Founder Update, where he takes a look back at an eventful Q2, what we’ve learnt and how Maple 2.0 will drive the immediate and long-term growth of Maple.

The second half of 2022 will be transformational. Maple 2.0 provides a platform for faster development, we’re launching pools targeting new sectors like Bitcoin mining, and the crypto lending market has an open draw with highly favorable conditions. Maple is laser focused on returning to growth in TVL with a continued focus on premium crypto institutions.

Read the full article.

Sid shares more in an insightful Twitter thread.

July Community Call

We hosted the July Community Call this week. Sid, Joe and Charlotte discussed founder reflections, the Q2 Treasury Report, and the H2 Roadmap and how we’re building Maple 2.0.

Watch here.

Neat comms

• Sid joined iHeartRadio for an interview last month while at Consensus

• Blockworks announced Sid as a speaker at DAS

• Lucas, Maple Smart Contract Lead, gave a presentation at DeFi Toronto about Maple

• Meet Dave, who joined Maple as Product Manager