Maple Finance turned a profit for the first time in Q1 2022. Attributable to the increased appetite for uncollateralized lending from new and old borrowers across all pools. This quarter Maple surpassed $1BN in total loans originated, just 10 months after its  commercial launch.

The business model of Maple is simple, the more active liquidity it can bring into its pools and the more loans issued, the more revenue flows to the Maple Treasury. The impending release of xMPL in Q2 2022 will represent an exciting evolution that will enable MPL holders to generate returns from these growing treasury revenues.

Revenue for the protocol is received through Loan Establishment Fees that are paid by borrowers at 0.99% annualized. Two thirds, or 66bps, is paid to the Maple Treasury and one third, or 33bps, is paid to the Pool Delegate that issues the loan.

This quarter the platform originated $618M loans across 56 new deals, with $265M originated in February, and $297M in March respectively. The strong growth in loan originations is attributable to a consistent and committed focus from pool delegates and the Maple team, to ensure liquidity utilization rates are high and capital is routed quickly and efficiently. Utilization rates have remained consistently over 90% throughout the quarter across all pools ensuring that Maple is using the lending funds it is entrusted with as proactively as possible.

Pool performance

Existing pools

Syndicated loan for Alameda Research — operated by Orthogonal Trading

On 17 February 2022, the fifth loan was issued to Alameda totalling $47.25M. At the time this was the largest loan ever issued on the platform. But not to be outdone, Orthogonal quickly followed this with a sixth loan that issued $77.77M on 22nd March — lucky for some — and took loans issued by Maple to over $1BN.

Deposits from new and existing lenders, have been rolled and increased consistently with notable sums contributed from ABRA and Coinshares who continue to utilize Maple’s broad yield generating solutions. Pool can be access here.

Maven 11 USDC denominated pool goes from strength to strength

Throughout the quarter the Maven 11 team continued to excel in the management of their pool with 23 new loans issued, totalling $195M and growing their active liquidity in the pool to $271M (~60% Q on Q growth). New borrowers were onboarded including Auros, FBG and Dexterity. Checkout the Pool here.

New pools opened and provided liquidity in wETH to meet market demand

Celsius joined as the first CeFi organisation to launch a lending business on Maple

On 24th February, the Celsius team opened a lending pool denominated in wETH on Maple. The private pool is funded by Celsius only and lends wETH to borrowers through Maple. Celsius launched the pool with $25M in wETH and issued loans to borrowers all in a matter of hours. Demonstrating the ease of use, benefit and utility for established lending businesses when setting up a pool on Maple’s DeFi rails. Visit here.

Maven 11 launched a second pool on Maple, this time denominated in wETH

On 11th March, Maven 11 launched a public pool denominated in wETH to meet strong lending and borrowing demand. They immediately issued $25M in loans to existing borrowers they’ve built a relationship and credit history with from their USDC denominated pool. Borrowers include Amber Group, Framework and Bastion Trading. Lending demand has continued to increase into Q2 2022 with additional deposits totalling 4,000 wETH now received. Access pool here.

The first quarter of 2022 has been exceptional for Maple. Its focus remains steadfast to maintain this momentum; execute in established market, build new product features and launch creative initiatives to expand our market penetration.

ABOUT Maple Finance
Maple Finance is an institutional capital marketplace powered by blockchain technology. On a mission to redefine capital markets through digital assets, Maple expands the digital economy by providing undercollateralized lending for institutional borrowers and fixed-income opportunities for lenders. The economic potential of the future will be fulfilled by harnessing global capital and applying it to areas of greatest opportunity.

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