Maple's Sunday Syrup: Issue #16

Dec 14, 2021

Welcome to the latest edition of the Maple Newsletter. Keep up with the latest news on Twitter & LinkedIn and join the Mapes on Telegram & Discord 🦍

🥞 Summary

$500M total liquidity provided 🌟
Alameda Research accesses first DeFi Syndicated Loan on Maple
Maple DAO buys back $1.2M of MPL using protocol fee revenue
Merit Circle joins the Maple ecosystem
Looking ahead: Community Call & DeFiCon🥞

🧮 By the Numbers

Stats for the past fortnight

New Liquidity Deposited: $106M
Total Liquidity Deposited: $500M
Lender APY: 18.6% (ie 7.2% USDC + 11.4% MPL)
Staking APY: 21.5% (ie 13.5% USDC + 8.0% MPL)

Maple is closing off the year strong!

$500M Milestone 🥞

Earlier this year Maple launched its first lending pool capped at $17M USDC. Now the Maple ecosystem has grown to over $500M in liquidity provided across four lending pools!

We are incredibly grateful for the support of our partners and community in reaching this milestone. This is just the beginning of institutional participation in DeFi and we look forward to supporting the traditional and digital economies through efficient capital allocation in 2022.

Explore the lending pools on Maple and start earning yield today!

Alameda Research Accesses First DeFi Syndicated Loan on Maple ⚡️

Recently Maple launched an on-chain vehicle for Alameda Research, the $30 billion dollar quantitative trading firm, to syndicate loans directly from accredited institutional investors around the world, including CoinShares and Abra in the first cohort. This is the first DeFi syndicated loan created specifically for large-cap institutions to access debt capital markets by using the Ethereum blockchain.

We are proud to be partnering with Alameda to facilitate on-chain access to capital, with the goal to unlock access to $1 billion within the next 12 months.

This single-borrower lending pool launched shortly after Maple welcomed BlockTower Capital as the pool delegate for its first permissioned lending pool. This permissioned lending pool launched at $25M and has since doubled in size, reaching $50M from institutions eager to participate in DeFi lending.

Just DAO It 🌟

Maple's climb to $500M in total liquidity provided has been supported by recent deposits from DAOs looking to earn yield with the stablecoins in their treasuries. First to join the ecosystem was Pickle Finance, followed quickly by KeeperDAO and Synthetix.

Now we are proud to welcome Merit Circle to the Maple ecosystem with their recent deposit of $10M to the Maven 11 Lending Pool.

Interested in learning more about Merit Circle and how they approach their treasury strategy? Join the core MC team at the Maple Community Call this Wednesday!

NYC Here We Come 🚀

Maple is proud to be sponsoring DeFiCON in Brooklyn this weekend! Co-Founder and CEO Sidney Powell will be speaking on the lending opportunities available in DeFi. If you're headed to DeFiCON, give us a shout by tweeting us @maplefinance.

If you haven't snagged your ticket just yet, we'll be giving away a ticket at the Maple Community Call this Wednesday. You won't want to miss this!

🤝 Maple is hiring

Join our mission of expanding the digital economy through crypto capital markets

Maple Finance @maplefinance

Calling all Solidity Engineers! Smart Contract Lead @lucasmanuel_eth shares the opportunity available for talented Solidity Engineers at Maple Check out all job postings here: jobs.lever.co/maple-finance

Actively hiring for:

📅 Upcoming Events

December 15 - Maple Community Call

December 18 & 19 - DeFiCON, sponsored by Maple

⚖️ Mapes Governance

To participate in governance, anyone who holds at least 25 $MPL is able to register as Mape in Discord and vote on governance proposals submitted by the community.

MIP-006: Use of Establishment Fees

Summary: Use the $1.2M fee revenue accrued to the Maple Treasury to repurchase MPL tokens to further facilitate the growth and scaling of the protocol
Status: Completed ✅
Full proposal available here

Participate in Maple Governance