Maple

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Discover Maple's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Maple?

Maple (MPL) is a cryptocurrency launched in 2021 on the Ethereum platform. It operates within the Maple Finance ecosystem, which provides a range of lending options and yield opportunities for institutional and individual lenders. The platform offers secured lending to institutional borrowers, backed by digital assets, and allows users to earn yield through various lending structures. MPL token holders can participate in the growth of the ecosystem and benefit from its yield-generating activities.

How is Maple used?

The crypto token Maple (MPL) is used primarily for governance and earning fees within the Maple Finance platform. As an ERC-20 token, MPL empowers holders to participate in governance decisions, such as voting on changes to the protocol, burning or minting tokens, and adjusting fees. Additionally, MPL holders can stake their tokens to the lending pools, which creates economic security by allowing them to deposit liquidity and receive balancer pool tokens (BPTs) to provide first-loss capital.

How do I store Maple?

To store Maple (MPL) tokens, you have two primary options:

  1. Centralized Exchange (CEX): You can store your MPL tokens on a CEX, which provides convenient access to various investment products and features. The exchange will securely hold your funds, but you will need to select an exchange with strict security measures to ensure the safety of your assets.

  2. Non-Custodial Wallet: For greater control and security, you can store your MPL tokens in a non-custodial wallet. This option grants you complete control over your private keys, but you will be responsible for managing and securing them. You can use hardware wallets, Web3 wallets, or paper wallets.

Both methods have their pros and cons, so it is essential to evaluate your needs and preferences before deciding on the best method for storing your MPL tokens.

How to buy Maple?

To buy Maple (MPL) tokens, follow these steps:

Using a Centralized Exchange (CEX)
  1. Choose a CEX: Select a reliable and trustworthy crypto exchange that supports Maple Finance (MPL) purchases. Consider the ease of use, fee structure, and supported payment methods when choosing a crypto exchange. Some popular options include Coinbase, Bitstamp, and AscendEX.

  2. Create an account: Enter the required information and set a secure password. Enable 2FA using Google Authenticator and other security settings to add an extra layer of security to your account.

  3. Verify your identity: A secure and reputed exchange will often ask you to complete KYC verification. Information required for KYC will vary based on your nationality and region. Users who pass KYC verification will have access to more features and services on the platform.

  1. Add a payment method: Follow the instructions provided by the exchange to add a credit/debit card, bank account, or other supported payment method. The information you need to provide may vary depending on your bank's security requirements.

  2. Buy Maple Finance (MPL): You are now ready to buy Maple Finance (MPL). You can easily buy Maple Finance (MPL) using fiat currency or by exchanging other cryptocurrencies like Bitcoin or Ethereum.

Using a Decentralized Exchange (DEX)
  1. Go to the DEX page: Navigate to the decentralized exchange (DEX) that supports Maple Finance (MPL) trading.

  2. Download and install a Web3 crypto wallet: Use a wallet like Metamask or Trust Wallet, which is supported by the DEX. Set up a new wallet and transfer the necessary cryptocurrency (e.g., ETH or BNB) to your wallet address.

  3. Connect your wallet to the DEX: Connect your wallet to the DEX by following the instructions on the DEX page.

  1. Find the "Swap" option: Locate the "Swap" option on the DEX and choose the token you want to trade from the dropdown menu in the "From" section and Maple Finance (MPL) in the "To" section.

  2. Enter the amount and confirm: Enter the amount you want to trade and confirm the transaction. Your wallet will ask you to confirm the action.

Additional Tips
  • Ensure you have a valid ID and proof of address for verification.
  • Be cautious of scams and fake tokens on DEX platforms.
  • Research and compare fees and services among different exchanges before making a purchase.
  • Always follow the specific instructions provided by the exchange you choose, as procedures may vary slightly.
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History of Maple

Maple Finance, also known as MPL, is a decentralized credit marketplace that operates on the blockchain. It was built by Maple Labs Pty Ltd and initially went live on Ethereum in May 2021. Initially, the platform focused on under-collateralized on-chain lending, catering to crypto businesses seeking capital for growth and operations.

Following the crypto credit crunch of 2022, which saw the bankruptcy of several large centralized lenders, Maple expanded its services to include over-collateralized lending and real-world assets (RWAs), starting with U.S. Treasuries. This expansion marked a significant milestone in the platform's history, demonstrating its adaptability and resilience in the face of market challenges.

The MPL token, an ERC-20 token, plays a crucial role in the Maple ecosystem, facilitating governance, earning fees, and staking. It has a maximum supply of 10 million tokens and has undergone several distribution phases, including treasury allocation, seed investments, public auctions, liquidity mining, and team and advisor allocations.

Throughout its history, Maple Finance has continued to evolve, with ongoing efforts to upgrade its tokenomics. As of October 2023, a proposal for tokenomics upgrades was flagged, although it had not yet been submitted. This ongoing development underscores the platform's commitment to improving its services and staying competitive in the rapidly changing cryptocurrency landscape.

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How Maple works

Maple Finance is a decentralized lending platform that operates on both the Solana and Ethereum blockchains. It allows institutional borrowers to access transparent and efficient financing entirely on-chain, while providing liquidity providers with a sustainable yield source through lending to diversified pools of crypto institutions.

Governance and Token

The platform is governed by the Maple Token (MPL), which is an ERC-20 token. MPL holders can participate in governance, earning fees, and staking to the lending pools. This token empowers holders to vote on changes to the protocol, such as burning or minting MPL tokens or adjusting fees.

Lending Process

The lending process involves Pool Delegates, who manage the liquidity pools and conduct due diligence on borrowers. These delegates set terms with borrowers before funding loans from their designated liquidity pool. This setup ensures that liquidity providers earn a sustainable yield through diversified exposure to crypto's premium institutions, with the added benefit of a set-and-forget solution as diligence is conducted by the Pool Delegates.

Borrowing and Lending Opportunities

Maple offers a range of lending options to meet the liquidity, risk, and return requirements of corporate treasuries, high net worth individuals, and crypto funds. These options include stablecoin secured lending, altcoin secured lending, corporate credit, and cash management. Each option is designed to provide a specific yield profile and risk management strategy.

Blockchain Technology

Maple's blockchain technology ensures fast and secure transactions, as well as radical transparency for risk management and monitoring. This transparency allows for efficient risk assessment and monitoring, making it an attractive platform for institutional investors.

Overall, Maple Finance provides a comprehensive and secure lending ecosystem that bridges the gap between traditional finance and decentralized finance, offering a unique opportunity for investors to participate in the growth of the digital asset market.

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Maple's strengths

The strengths of the Maple (MPL) token include:

  • Governance and Participation: MPL empowers holders to participate in governance, vote on protocol changes, and earn fees, ensuring that the community has a say in the platform’s development.
  • Staking and Rewards: MPL holders can stake their tokens to earn xMPL tokens, which accumulate through the repurchase of MPL tokens from the open market, providing a potential source of passive income.
  • Decentralized Infrastructure: Maple operates on the Ethereum blockchain, ensuring a decentralized structure that streamlines the borrowing process and creates sustainable earning opportunities for lenders.
  • Enterprise Focus: Maple provides enterprise-level clientele with secure access to credit, filling a niche in the market and positioning the protocol for large-scale DeFi adoption.
  • Diversified Utility: MPL serves multiple roles, including staking, creating lending pools, and paying fees, making it a versatile token within the Maple ecosystem.

These strengths contribute to the overall value and functionality of the MPL token within the Maple Finance platform.

Maple's risks

Maple Finance, a decentralized lending platform, faces several financial risks that investors should be aware of:

  1. Default Risks: Maple has experienced defaults from borrowers, such as Orthogonal Trading, which defaulted on $36 million in loans. This highlights the importance of considering the financial activities of borrowers and the overall market situation when investing in Maple’s lending pools.

  2. Process Risks: Mistakes or non-adherence to procedures by borrowers or pool delegates can lead to risks related to lending processes.

  3. Systemic Risks: Maple is exposed to broader market turmoil and downward reflexivity in the crypto space, which can impact its operations and reputation.

  1. Reputation and Trust: Defaults and losses can lead to reputational damage and erosion of trust among investors, potentially affecting Maple’s long-term viability.

  2. Liquidity Challenges: Maple has faced liquidity challenges, which can impact its ability to originate new loans and maintain its lending activities.

  3. Design Flaws: The design of Maple’s credit pools and insurance funds has been criticized for not providing adequate safety checks and not incentivizing responsible behavior from pool managers.

  1. Token Value: The value of MPL, Maple’s native token, is tied to the protocol’s income and can be affected by operational needs and market conditions. This can impact the effectiveness of staking rewards and token repurchasing programs.

These risks underscore the importance of thorough due diligence and careful consideration of the market environment when investing in Maple Finance.

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Did Maple raise funds?

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Maple’s team

  • Sidney Powell: CEO
  • Joe Flanagan: Co-Founder
  • Matt Collum: Head of Engineering
  • Ryan O'Shea: Head of Operations

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