{"id":25043,"date":"2022-04-26T02:52:21","date_gmt":"2022-04-26T06:52:21","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=25043"},"modified":"2022-04-26T02:52:28","modified_gmt":"2022-04-26T06:52:28","slug":"solana-gets-financial-support-from-crypto","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/solana-gets-financial-support-from-crypto\/","title":{"rendered":"Solana Gets Support From Crypto Lender Maple Finance"},"content":{"rendered":"\n
Maple Finance, an institutional crypto\u00a0lender, has expanded its blockchain footprint by debuting the Solana <\/a>blockchain.<\/h5>\n\n\n\n
\"Solana
Solana Gets Support From Crypto Lender Maple Finance<\/figcaption><\/figure>\n\n\n\n

Maple Finance, a decentralized marketplace for institutional lending, has officially started on the Solana blockchain platform. Maple, in collaboration with its partners, will launch a $45 million fund to help build the Solana \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>ecosystem in the short term.<\/p>\n\n\n\n

Maple Finance becomes a multi-chain institution <\/h2>\n\n\n\n

A number of pool delegates provide undercollateralized loans for institutional borrowers on Ethereum (ETH) and now Solana (SOL) to Maple, which is a cryptocurrency exchange. According to a blog post published on April 25, the initiative has already “originated over $1.2 billion in loans and now counts over $900 million in TVL to the platform.”<\/p>\n\n\n\n

With funds contributed by USD Coin (USDC) issuer Circle, digital asset management CoinShares, and many undisclosed Solana-based companies, the ecosystem fund was formed in collaboration with decentralized finance (DeFi) lending platform X-Margin.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Crypto-native businesses can use Maple Finance's uncollateralized loans to improve their operations in a capital-efficient way that would otherwise be challenging. The crypto-focused venture firm Framework, as well as the Sam Bankman-backed trading outfit Alameda Research, are among the first borrowers on Maple Solana.<\/p>\n\n\n\n

Maple is a hybrid of decentralized and centralized finance that uses human actors to assess the creditworthiness of potential borrowers. Before getting approved for a loan, prospective borrowers must go through a thorough due diligence procedure. <\/p>\n\n\n\n

On Maple Solana, the first pool delegate to accomplish this is X-Margin, which is responsible for credit scoring as well as issuing, underwriting, and handling interest and payments for institutional loans. It will actively manage these activities using Maple's infrastructure.<\/p>\n\n\n\n

\"
X-Margin<\/figcaption><\/figure>\n\n\n\n

The Maple Solana pool now holds approximately $34 million in Circle's USDC stablecoin and is close to reaching its original capacity. Maple has contributed roughly $900 million in liquidity to the Ethereum ecosystem and has created around $1.2 billion in loans since its start nearly a year ago.<\/p>\n\n\n\n

Maple's onboarding of Celsius, which brought $30 million in wrapped Ethereum that institutions might possibly borrow, further expanded its services into the area of centralized financial lenders in February. <\/p>\n\n\n\n

All borrowers must undertake know-your-customer and anti-money laundering checks to enable institutions to retain confidence that they may utilize Maple in a way that is consistent with the legislation.<\/p>\n\n\n\n

In the next three to six months, the Maple Solana team aims to deploy its SYRUP governance token, which will be comparable to the MPL token for Maple Ethereum. Furthermore, a Maple spokesperson told Crypto Briefing that following X-Margin, the next loan assessor will be “an established b2b crypto lender, brokerage, custody, and trading business.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Maple Finance, an institutional crypto\u00a0lender, has expanded its blockchain footprint by debuting the Solana blockchain. Maple Finance, a decentralized marketplace for institutional lending, has officially started on the Solana blockchain platform. Maple, in collaboration with its partners, will launch a $45 million fund to help build the Solana ecosystem in the short term. Maple Finance […]<\/p>\n","protected":false},"author":13,"featured_media":25048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-25043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/04\/image-168.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/25043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=25043"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/25043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/25048"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=25043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=25043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=25043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}