View source for Maple Finance (MPL)

[https://www.coindesk.com/maple-finance-corporate-lending-defi From] [[CoinDesk]] (18-12-2020):

''"[A] platform for institutional lending at extremely competitive collateralization terms and fixed rates that won’t change for borrowers in good standing."''
==Basics ==
* Started in / Announced on: [https://maplefinance.ghost.io/introducing-the-maple-protocol/ 2019]
* [[Mainnet]] release: scheduled for [https://www.coindesk.com/maple-finance-raises-1-4m-for-its-reputation-based-defi-lending-platform 4-2021], got released on [https://twitter.com/maplefinance/status/1393311458637885440 15-5-2021].
* Based in: [https://www.coindesk.com/maple-finance-corporate-lending-defi Australia] (18-12-2020).
*[https://newsletter.banklesshq.com/p/here-are-the-best-real-yields-in?utm_source=substack&utm_medium=email From] [[Bankless DAO (BANK)|Bankless]] (9-9-2022):
''"Maple is an under-collateralized lending platform. Maple enables institutions, such as market makers or VCs, to take out under-collateralized loans via isolated lending pools. While some pools on the platform are [[permissioned]], there are several Maple pools which currently accept public deposits."''

== History ==
== Audits & Exploits ==

* The Maple Finance team has hosted a [https://github.com/code-423n4/2021-04-maple competition] on Code Arena with a cash reward of up to 100k. It is however [https://docs.defisafety.com/master/maple-finance-process-quality-review no longer active] (29-9-2021).
*Scored [https://docs.defisafety.com/master/maple-finance-process-quality-review 92%] on [[DeFi Safety]] (29-9-2021):

''"[https://github.com/maple-labs/maple-core#audit-reports Three] audits were conducted on Maple, two of which were before the deployment of V1."''

=== Bugs/Exploits ===
== Governance ==
=== Admin Keys ===

* [https://docs.defisafety.com/master/maple-finance-process-quality-review From] [[DeFi Safety]] (29-9-2021):

''"There is a [https://github.com/maple-labs/maple-core/wiki/Security security section] in the wiki of the Maple Finance [[Github|GitHub]] repository, but it takes a bit of looking. All of the Maple Finance v1 [[contracts]] are [[immutable]] as described in the security section of their [[GitHub]] wiki. This is backed up by the immutable functions in their source code, as well as the use of the Constructor functions. Pause controls are mentioned extensively in the Maple [https://github.com/maple-labs/maple-core/wiki/Security docs]. A "fire drill" test of the Maple Pause Control will take place with DeFiSafety in the [[near]] future."''

=== DAO ===
=== Treasury ===

* [https://ournetwork.substack.com/p/ournetwork-issue-124?s=r From] [[Our Network]] (3-6-2022):

''"The team recently released Maple’s Q1 [https://maple.finance/news/q1-2022-maple-treasury-report/ 2022 Treasury Report], showing the protocol recently turned profitable with ~$227k net income. The project makes money by collecting 2/3 of the 0.99% loan establishment fee. TTM Revenue is approaching ~$40m."''

== Token ==
=== Launch ===

* [https://ethhub.substack.com/p/ethhub-weekly-162?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozNTMxMjg5NSwiXyI6IkNDcGZjIiwiaWF0IjoxNjE4ODg2Mzg1LCJleHAiOjE2MTg4ODk5ODUsImlzcyI6InB1Yi0zOTEwIiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.exVvPyhMi1kDUFO3yV80-GzK2GBUopjGgbd4 From] [[EthHub]] (20-4-2021):

''"Maple will be [https://maplefinance.ghost.io/introducing-the-maple-lbp/ distributing] its governance [[token]] MPL through a [[Balancer (BAL)|Balancer]] Labs [[Liquidity]] Bootstrapping Pool on April 28, 2021."''

=== Token allocation ===
* [https://www.coindesk.com/maple-finance-corporate-lending-defi From] [[CoinDesk]] (18-12-2020):
"''The total supply of MPL [[tokens]] will be fixed at 10 million, with approximately 30% going to [[liquidity mining]]."''

=== Utility ===
* [https://medium.com/paradigm-fund/defi-in-ether-compound-revealed-compound-chain-aave-v2-governance-is-live-melon-rebrands-to-4bf70165245c Has] a [[governance]] token.
*From their [https://maplefinance.ghost.io/introducing-the-maple-protocol/ introduction] (10-2-2021):

''"Holders of the Maple Token (MPL) participate in the following ways:''

# ''Passive MPL Holders [[earn]] a portion of establishment [[fees]]''
# ''Savvy MPL Holders can earn additional yield by selecting [[Liquidity pools|Liquidity Pools]] to [[stake]]. [[Staking]] provides a reserve covering loan defaults in return for a share of the ongoing fees''
# ''As Maple moves towards full [[decentralization]], MPL Holders will be able to submit proposals and vote on changes such as adding Pool Delegates and adjusting fees and staking parameters"''

=== Token Details ===
=== Stablecoin ===
== Technology ==
* [[Whitepaper]] can be found [https://maplefinance.gitbook.io/maple/protocol/maple-protocol-v1.0.0 here].
* Code can be viewed [https://github.com/maple-labs/maple-core/wiki here].  [https://docs.defisafety.com/master/maple-finance-process-quality-review From] [[DeFi Safety]] (29-9-2021):

''"At 768 commits and 19 branches, Maple Finance's development history is Shakespearean in quality and richness."''

* Built on: [[Ethereum]] and [[Solana (SOL)|Solana]] ([https://ournetwork.substack.com/p/ournetwork-issue-124?s=r 6-2022]).

=== How it works ===
* [https://www.coindesk.com/maple-finance-corporate-lending-defi From] [[CoinDesk]] (18-12-2020):
"''On Maple, a good firm would pay one rate for the life of the loan, could collateralize with as little as 40% of the loan’s value and the initial collateral deposit would not need to be revisited.''

''“With ours, it’s a set-it-and-forget-it solution,” Joe Flanagan, co-founder, said. “As long as you remain a paying borrower and meeting your obligations there will be no further calls on your collateral.” Maple is able to offer better terms based on the reputation of borrowers. It will make offers only to institutional customers. That said, Flannagan noted, as this market matures and evolves, Maple would definitely be interested in serving crypto-native organizations, such as [[decentralized]] autonomous organizations ([[DAOs]]) that don’t have traditional legal structures. That “expands the addressable market for Maple,” he said.''

''Maple will be organized by pools, with each pool managed by a “Pool Delegate” who will make decisions about loans in that pool. Pools will specialize in certain areas where the delegate has expertise, such as a region of the world, a category of borrower or a risk profile.''

''Its first pool will be small, to demonstrate the model. It will have between $10 million and $15 million in funds available for lending, with loans in the $1 million to 2 million range. Maple will initially aim for a pool with a diverse array of borrowers, but all well-established and carefully selected.''

''One or two pools will be co-managed by Maple Finance and its first Pool Delegate, [https://www.linkedin.com/company/orthogonal-trading/about/ Orthogonal Trading], a crypto firm, also out of Australia, starting in the first quarter of 2021."''

=== Fees ===
=== Upgrades ===
=== Staking ===
=== Liquidity Mining ===
* [https://www.coindesk.com/maple-finance-corporate-lending-defi From] [[CoinDesk]] (18-12-2020):
"''Once the first pool opens, it will be open to participation from across [[Ethereum]] up to the maximum amount that a pool ultimately sets. That capital will then be deployed to make the loans. “We assume it will be a combination of both individuals and [[Degen|degens]] and institutions and corporates,” Flanagan said.''

''Additionally, those [[liquidity providers]] will earn MPL tokens under a [[liquidity mining]] scheme whose precise terms have not yet been worked out. The total supply of MPL tokens will be fixed at 10 million, with approximately 30% going to liquidity [[mining]]."''

=== Scaling ===
=== Different Implementations ===
=== Interoperability ===
=== Other Details ===
== Oracle Method ==

* [https://maplefinance.gitbook.io/maple/smart-contracts/oracles Uses] [[Chainlink (LINK)|Chainlink]], among others (6-12-2021).

== Privacy Method ==
== Compliance ==

* [https://www.coindesk.com/maple-finance-corporate-lending-defi From] [[CoinDesk]] (18-12-2020):
"''“Our intent is not for the token to be considered a security,” Powell said, noting Maple is taking advice on legal matters. There are no plans currently to shut out U.S. residents from holding the MPL token."''
== Their Other Projects ==
== Roadmap ==
* Can be found [Insert [[LINK|link]] here].

== Usage ==

* Maple has originated $1.6B in loans ([https://newsletter.banklesshq.com/p/here-are-the-best-real-yields-in?utm_source=substack&utm_medium=email 9-9-2022]). 
*[https://ournetwork.substack.com/p/ournetwork-issue-124?s=r From] [[Our Network]] (3-6-2022):

''"Current borrowers include Orthogonal Trading, [[Maven 11]], [[FTX (FTT)|Alameda]], and [[Celsius (CEL)|Celsius]]. The protocol recently launched on [[Solana (SOL)|Solana]], facilitating ~$39m in total loans on the chain. Total [[Total Value Locked (TVL)|TVL]] on [[Ethereum (ETH)|Ethereum]] is tracking ~$850m, with the majority of loaned capital in the [[Orthogonal]] and Maven 11 pools."''

=== Projects that use or built on it ===
== Competition ==
== Coin Distribution ==
== Pros and Cons ==
=== Pros ===
=== Cons ===
== Team, Funding, Partners ==
=== Team ===
* Full team can be found [https://au.linkedin.com/company/maplefinance here].
* [[Sidney Powell]]; CEO and co-founder
* [[Joe Flanagan]]; co-founder
=== Funding ===

* [https://ournetwork.substack.com/p/ournetwork-issue-124?s=r From] [[Our Network]] (3-6-2022):

''"The team recently released Maple’s Q1 [https://maple.finance/news/q1-2022-maple-treasury-report/ 2022 Treasury Report], showing the protocol recently turned profitable with ~$227k net income. The project makes money by collecting 2/3 of the 0.99% loan establishment fee. TTM Revenue is approaching ~$40m."''
*[https://www.coindesk.com/maple-finance-raises-1-4m-for-its-reputation-based-defi-lending-platform From] [[CoinDesk]] (18-3-2021):
''""Closed a $1.4 million funding round led by [[Framework]] Ventures and [[Polychain Capital]]."''
*[https://medium.com/paradigm-fund/defi-in-ether-compound-revealed-compound-chain-aave-v2-governance-is-live-melon-rebrands-to-4bf70165245c From] [[Paradigm]] (12-2020):
"<em>Maple Finance [https://www.coindesk.com/maple-finance-corporate-lending-defi raised] a $1.3 million [[seed]] round for its MPL governance token from [[Framework Ventures]], [[Alameda Research]], [[AAVE|Aave]] founder [[Stani Kulechov]], [[Synthetix]] founder [[Kain Warwick]], [[FBG]], [[The LAO]] and others."</em>

*

=== Partners===

* [https://kermankohli.substack.com/p/last-week-part-1-bean-exploited-private?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJfIjoicTgvVWsiLCJpYXQiOjE2NTMwNDI4ODMsImV4cCI6MTY1MzA0NjQ4MywiaXNzIjoicHViLTU0MDIiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.eqoT_Rf4kCU41X91e3mxiXahZ5Ho57zL9FADvnV3qfY&s=r Integrated] with [[MakerDAO]] (12-4-2022).

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