Maple Finance TVL More Than Doubles Leading Up to New Retail Arm
The post Maple Finance TVL More Than Doubles Leading Up to New Retail Arm appeared on BitcoinEthereumNews.com.
The DeFi protocol hit all-time high TVL and revenue in June. Maple Finance’s total-value locked (TVL) growth is accelerating after the launch of its retail-focused product, Syrup.fi. Maple’s TVL increased by 123% in the second quarter, hitting an all-time high of $230 million, according to Dune Analytics. The protocol’s quarterly revenue also jumped by 39%. Maple’s strong performance in June was capped off with the launch of Syrup.fi on June 25. The rest of the DeFi market increased by roughly 9% in the same time period, per DeFiLlama. Maple Monthly Revenue – Dune Analytics The growth spurt is indicative of the demand for institutional-grade products leveraging high yield and real world assets (RWAs) as well as the anticipation for a retail extension of Maple Finance. The current structure is also well incentivized, with Maple users earning up to 23% on digital assets, and Syrup users accruing “Drips”, which are akin to points. Co-founder Joe Flanagan told The Defiant, “Maple’s growth is attributed to our secured lending products that provide yield from loans to the largest institutions fully backed by digital assets.” He continued, “we are providing the best risk-adjusted yield in the space and people are starting to recognize it.” Maple Finance is a decentralized finance (DeFi) market designed to connect accredited investors with institutional lenders and borrowers. Maple is only available to users who have performed know-your customer checks and meet regulatory standards for the product. Maple’s resurgence comes after its TVL got crushed during the FTX fallout, when $36 million worth of loans owed to Maple were defaulted on. Retail-Focused Syrup.fi In addition to its institutional product, the team has recently launched a retail-focused arm, dubbed Syrup.fi. The team is gradually rolling out Syrup.fi, which has accrued more than $13 million in TVL since its launch on June…
Filed under: News - @ July 6, 2024 5:20 am