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Maple is also working on additions to its lending offerings, Powell said during the call. A new feature, internally referred to as Maple Prime, will let borrowers actively manage their collateral positions. The protocol plans to expand into open-term lending, which will let borrowers to open credit lines to borrow
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The firm introduced an upgraded credit underwriting process and appointed a new head of credit. The developments came after M11 Credit suffered $36 million of loan defaults on lending protocol Maple Finance following FTX’s November collapse. Original Source
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Crypto trading firm Auros Global, a victim of crypto exchange FTX’s bankruptcy, has reached a resolution to restructure its distressed debt on blockchain-based lending protocol Maple Finance, its primary creditor, M11 Credit, said in a statement on Wednesday. Source
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“Receivables financing is one of the oldest commercial finance products,” and AQRU hopes to get a “first-mover advantage” by bringing this traditional investment strategy to crypto investors who are seeking conservative investments to earn a yield, Phil Blows, chief executive of AQRU, told CoinDesk in an interview. Original Source
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Orthogonal defaulted on $36 million of loans on decentralized finance (DeFi) protocol Maple Finance earlier this month after it misrepresented its losses from the FTX implosion. Original Source
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Maple Finance is a decentralized credit market powered by blockchain technology. Instead of requiring overcollaterlization of loans, it instead allows managers, called “Pool Delegates” to issue loans from its lending pools based on a set of risk-management criteria, according to the protocol’s documents.Introducing Maple 2.0.Maple 2.0 is a fundamental overhaul
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The improvements attempt to solve Maple’s design shortcomings highlighted during a recent debt crisis, but they may reduce incentives for holding the protocol’s native MPL token in its new form, an analyst said. Source
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The emergence of Maple Finance brought a different approach to the entire process. This bold DeFi lending protocol requires no deposit of extra crypto tokens as collateral for borrowing. In the decentralized finance (DeFi) space, cryptocurrency lending came as a means that allows investors access to their preferred tokens. However, they
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Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade. The project's MPL token has plunged, and depositors are likely to stomach big losses. Here's how it happened, and what comes next. Original Source
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Orthogonal Trading’s insolvency, triggered $31 million of loans in the credit pool to default this week. The bad debt represents 80% of the credit pool’s outstanding loans. When Sherlock invested in the pool, however, Orthogonal’s borrowings only accounted for 14% of the pool’s loans. Source
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