ICYMI: Week 34 updates from Maple
Welcome to our ICYMI from week 34 2022. This week we shared big wins on the commercial side for Maple, shipped product features and MPL rewards in a new way, and enjoyed reading theses from our partners.
Back to Growth
Last week’s Community Call was all about growth, and we shared some big wins from across the platform as market conditions normalize.
In August, we issued >$100M loans and have now captured ~60% of the institutional DeFi lending market and become the largest institutional lender on Solana.
We are proud to welcome Flow Traders, a publicly listed market maker as a borrower, the team chose the Maven 11 pool on Maple to borrow from DeFi for the first time.
Impressively, most pools on the platform are now back to lending and we also welcomed the largest single deposit to the platform from Nexus Mutual; the DAO deposited 10% of their treasury into the Maven 11 wETH pool. Watch the full Community Call.
New Product Features Shipped
We shared more about progress on Maple 2.0 and new product features shipped in August in the Community Call.
On Maple Solana we launched open-term loans that are re-callable at any moment, helping to increase capital efficiency and is a differentiating feature on Maple Solana.
On Maple Ethereum new loan functionalities launched, including loan refinancing, allowing for more flexibility in loan length and frequency of repayments to better fit the capital needs of Borrowers. Excitingly, the first refinanced loan was deployed by Maven 11 to Auros on Friday 2nd September. For more info watch the full community call.
Changes to MPL rewards
Changes to MPL rewards came into effect on the 1st August, and rewards have now been deposited directly into wallets of lenders that have not requested withdrawals. This update to rewards is part of a continued program to taper MPL rewards and allow the underlying yield from Borrower repayments to be the main source of yield on the Maple protocol. Read more here.
Neat Comms
@mrjasonchoi shared a comprehensive report via The Blockcrunch about Maple.
@nellimkopi from Nansen shared his thoughts on The Blockcrunch report.
@LucaProsperi announced the news of an investment by Cherry Ventures in Maple.
Next Week
Monthly Pool Performance Updates for the pools
Getting ready for NYC
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