ICYMI: Week 15 Updates From Maple

Welcome to our ICYMI update from Week 15 2022. We shared our Q1 2022 Treasury report, published an exploration into the MakerDAO x Maple partnership, and hosted our community call for this month.

Joe shared our Q1 2022 Maple Treasury Report this week. We’re proud to share that Maple turned a profit within 10 months of launch, driven by increased loan volumes and revenue. This quarter’s revenues exceeded the previous three, combined.

Pool delegates originated $618M loans across 56 new deals, with $265M originated in February, and $297M in March respectively. Utilization rates remained consistently over 90% throughout the quarter, demonstrating that Maple is efficiently and proactively routing capital to where it’s needed most.

Source: Dune Analytics

Two new pools opened, and two existing pools broke records. Celsius joined as the first CeFi organisation to launch a lending business on Maple, and the Maven 11 team launched a second pool denominated in wETH. The syndicated pool for Alameda Research, run by Orthogonal Trading issued record-breaking loans of $47.25M and $77.77. And Maven’s USDC pool issued 23 new loans and grew active liquidity in the pool by ~60% Q/Q.

Expenditure was in line with expectations, with the major variance being in Team Costs and Recruitment. Our auditing arrangements represent a significant cost as we prioritize the security of our smart contracts. We continue to have a strong focus on managing operating expenses and hold an attitude of frugality across the team.

Our report was picked up by Anthony Sassano on The Daily Gwei podcast.

We received a mention from Mike Bucella, General Partner at Block Tower, on CNBC.

Read about additional factors contributing to our recent growth and profitable quarter, with the full Q1 2022 Treasury Report.

Lucas Manuel, Smart Contract Lead at Maple, shared an inspired article on the partnership between MakerDAO and Maple, and how it could serve to scale digital and real world economies. MakerDAO need to scale the DAI supply in a long-term, sustainable way. Maple’s infrastructure can be a gateway for them to reach an expanded market, providing large amounts of capital backed by real world assets in a highly efficient manner.

By leveraging the DAI Direct Deposit Module (D3M) to mint DAI into sector-specific managed liquidity pools in the Maple protocol, Maker will be able to scale through Maple’s crypto-capital infrastructure, and be a catalyst for growing the DAI supply to $100 billion and beyond.

This partnership is exciting because it means MakerDAO’s capital can be managed and deployed on a massive scale, expanding into real world assets specifically such as tech, sustainable energy and healthcare.

This was also covered by Anthony Sassano in The Daily Gwei podcast.

The Defiant picked up the news and shared in an article.

To learn more about the MakerDAO x Maple partnership read the full article from Lucas on Medium.

We hosted our April 2022 Community Call on Wednesday. Sid, Joe, Quinn B and Charlotte discussed the financials and a recap of Q1, five key focuses for Q2, and a deep dive on Maple Solana (mainnet soon!) We added our first ever tip of the hat section to celebrate our community, see below. We loved all the questions at the end of the call, and can’t wait to see everyone again next month.

You can watch the full recording on our YouTube channel.

Join our #events-calendar channel on Discord so you know when the next one is taking place.

Our merch giveaway on April Fools was no joke. 20 lucky winners have been randomly selected and messaged via DM. Take a peek at your inbox to see if you were one of our winners. We told you it was real!

See the tweet here.

X-Margin announced their partnership with Maven11 for their new wETH pool on Maple. Maven11 will use X-Margin’s private credit oracle to capture and monitor off-chain and on-chain activity of the borrowers in their pool. X-Margin’s privacy-preserving technology will bring transparency to the lending pool’s risk and allow for more efficient capital deployment.

Learn more about the Maven11 wETH Pool here.

Neat Comms:

Next week:

  • Share Q2 Roadmap in detail
  • Launch a bounty programme
  • Head to Amsterdam for DevConnect and ETHAmsterdam

Join us on our journey:

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Maple Finance

Maple Finance

Maple Finance is an institutional capital marketplace powered by blockchain technology.