MPL lending reward changes are live

This week MPL Lending Rewards changed for the Maven 11 and Orthogonal Trading USDC pools. Lenders requesting to withdraw will no longer receive MPL rewards. The change incentivizes longer-term partners and forms part of the continued tapering of the MPL rewards program.

The following changes are now in effect:

• Rewards will no longer be earned for Lenders that request to withdraw.

• Lenders that remain in the pools will receive MPL Rewards via a direct deposit to their wallet at the end of each month.

Maple has used the rewards program to bootstrap growth and incentivize lending participation since launch. This update is part of a continued program to taper MPL rewards with the underlying yield from borrower repayments as the main source of yield on the Maple protocol.

Going forward, the amount of MPL rewards will be calculated at month-end based on:

• Lenders not requesting a withdrawal during calendar month.

• Weighted average lending balance throughout calendar month.

• MPL price at month end.

Maple is moving to Foundry for smart contract invariant testing

Maple is moving to Foundry for smart contract invariant testing, seeing a 545x speed improvement in our test suite. Foundry offers the fastest & most flexible Ethereum development environment which works out of the box without configuration or third party libraries.

Exciting announcements from Credora (formerly X-Margin)

We’re big fans of the recent rebrand from X-Margin to Credora, which the team explains is a wordplay on Credit Oracle. The new name aligns more with the underlying technology and vision for the company’s future for more transparent and efficient crypto lending.

Read the Medium announcement.

The Credora team also announced the expansion of the capacity of their USDC pool on Maple Solana to $80M. Recent market conditions has led to an increase in demand for credit lines and has pushed up interest rates to 9-12%. In the last two weeks Credora has issued $34.5M loans to 5 lenders, with mostly double-digit interest rates.

During the recent market downturn, Credora’s real-time risk monitoring performed as intended and they were able to track borrowers’ assets through the market volatility. Credora’s privacy-preserving credit evaluations and risk management solutions bring transparency to the borrower’s credit risk and serve as the foundation for the Credora Maple USDC pool.

Read the full Twitter Thread from Credora.

Read the Medium announcement.

Visit the pool on the Maple WebApp.

Neat comms

• DeFiCon announced Katherine as a speaker on their panel to discuss how the intersection of law and crypto is building sustainable DeFi projects

• A thread from @Crotts__ explains how Maple’s robust business model could improve TradFi infrastructure and scale into an asset class showing exponential growth

• A thread from @Blockchain_GT explains how Maple’s infrastructure could bring institutional lending on-chain

• We announced Sid as a speaker at Messari Mainnet in September

• We put the spotlight on the Q2 performance of the Maven 11 USDC Pool

Next week

• We have an exciting announcement coming next week… More about this soon!

• We’ll open the registration for an event that you won’t want to miss

• We’ll turn the spotlight on the performance of more pools

• The next episode of the Syrup Series will go live, focusing on Maple's operational excellence

• Katherine, Maple's General Counsel, will speak on a panel at DeFiCon