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Cryptoknowmics 2022-04-26 11:48:17

Institutional Crypto Lender Maple Finance Expands to Solana

Under the collateralized lending protocol, Maple Finance has announced the expansion of the Solana blockchain. In collaboration with its partners, Maple will also launch a $45 million fund to help build the Solana ecosystem. MAPLE SOLANA IS NOW LIVE. With partners @xmargintrading @circlepay @CoinSharesCo and Solana natives, we start with $45M to issue uncollateralized to the thriving @solana ecosystem. By EOY we will grow this pool to $300M, and issue $1BN loans through Maple Solana. — Maple | Solana & Ethereum (@maplefinance) April 25, 2022 The Team Looks Towards Growing the Pool $300M The $45 million pool for uncollateralized loans was launched in partnership with DeFi lending platform X-Margin, with the capital being provided by USD Coin (USDC) issuer Circle, digital asset manager CoinShares, and several Solana native blockchain projects. The team also looks toward growing its pool over the next eight months to bring it to $300 million by the end of the year. The platform already boasts of closed loans worth $1.2 billion with a total value locked of more than $900 million in the market. In addition, the Maple Solana team also has plans to launch its SYRUP governance token in the next three to six months, which will be similar to the MPL token that exists for Maple Ethereum.The post Institutional Crypto Lender Maple Finance Expands to Solana first appeared on Cryptoknowmics-Crypto News and Media Pl...

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