ICYMI: Week 17 updates from Maple
Welcome to our ICYMI update from Week 17 2022. This week Maple moved multi-chain and issued the first loans on Solana, we attended Crypto Bahamas, and shared a a recording of Sid from AVAX Summit.
Maple became multi-chain this week by moving to Solana and launching the first pool with X-Margin, with capital provided by Circle, Coinshares and Solana natives. We plan to grow this pool to $300M by EOY. Whilst Maple is the first multi–chain capital solution, we are also the first institutionally focused platform to offer uncollateralized borrowing on Solana.
“Maple’s multi-chain infrastructure continues to lead the way for institutional credit infrastructure in crypto. X-Margin’s privacy preserving credit platform is a natural fit for this, helping to scale a more data-driven and transparent credit market in DeFi and CeFi.” Darshan Vaidya, CEO of X-Margin.
“Over the next three months, we expect to bring over $300 million of liquidity to Solana. We will soon welcome another credit-expert to the platform, and share more details on how liquidity protocols are already using Maple’s infrastructure as a launchpad onto Solana. From a product perspective, we will bring the product to parity over the course of the year and make plans for the SYRUP token”. Quinn Barry, Head of Maple Solana
Neat Maple Solana tweets:
- X-Margin shared more about the partnership.
- Chief Strategy Officer at CoinShares @Melt_Dem shares pancake pics to celebrate.
- Circle Co-founder & CEO Jeremy Allaire shares his sentiment about the strategic partnership.
- Solscan shares the news in their bi-weekly wrap-up.
- Head of Growth at Solana Labs shares his congratulations.
Maple Solana in the news:
- Crypto Lender Becomes First Credit Shop to Expand on Solana via Blockworks
- Maple enters Solana as the first undercollateralized lending protocol via Crypto Reporter
- Crypto lender Maple Finance expands support to Solana via CoinTelegraph
- Maple Finance Expands to Solana via Crypto Briefing
- Maple Moves Multi-Chain to Solana via Web3wire
Sid and Quinn B attended Crypto Bahamas, and met Solana Co-Founder Anatoly irl. We’re also hosted our signature Maple Morning Mixer, with partners Circle, X-Margin and project leads from across the Solana ecosystem.
Sticking with the multi-chain theme, last month Sid joined a panel at AVAX Summit Barcelona to discuss Institutional Participation in DeFi Lending. He sat alongside Jacquelyn Melinek from TechCruch, David Olsen from BlockFi, Steven McClurg from Valkyrie and Joe Bruzzesi from Raptor Group. The discussion covers the importance of incentive programs, why we’re still in the early stages of DeFi, institutional resistance to adoption of DeFi, the role of regulation, and more.
Maple’s top priority is to ensure the safety and security of the protocol and its users. That’s why we continually audit and review our code and compliance processes. One such recent development is incorporating TRM Labs technology to ensure illegal activities have no place on the protocol. Our recent article on Medium explains more, shows what users can expect to see on the website, and includes an FAQ section.
- We launch a Meme Contest — yes this means rocket gifs incoming!!!
- We’ll share a full updates on xMPL (staking) and more tokenomics updates
- Shiny new Governance Manager will join the team
- Sid is attending and speaking at Medici LA alongside Michael at Framework