Maple Finance Expands to Base Network
Maple Finance, a lending platform, is expanding its on-chain services to the Base network. This marks the platform’s third blockchain integration, following Ethereum and Solana. The first pool available on Base will be Maple’s Cash Management pool, which currently generates a yield of 4.8% from short-duration U.S. treasuries. This pool was launched in August and has been successful due to soaring interest rates and the popularity of American government debt.
What is Maple Finance?
Maple Finance is a blockchain infrastructure provider that allows companies to create their own credit facilities on the blockchain. Base, the Coinbase-incubated layer-2 blockchain built using Optimism technology, will now be integrated with Maple Finance. Room 40 Capital is currently the sole borrower of Maple’s Cash Management pool. When lenders deposit USDC stablecoins into the pool, Room 40 uses the proceeds to purchase T-Bills.
According to Joe Flanagan, co-founder of Maple Finance, “Web3 corporate treasuries” have shown significant interest in this specific pool, with more than 50% of deposits coming from this group. High-net-worth individuals are also a key demographic for this offering as they seek conservative ways to extend their runway.
Integration Benefits and Future Plans
The integration with Base provides Maple Finance with direct access to thousands of Coinbase Institutional customers. Flanagan also hinted at future collaborations that will introduce exclusive products on the Base network. He stated that at least one more pool launch on Base is expected before the end of the year, followed by additional opportunities in Q1 of next year.
The partnership between Maple Finance and Base aims to bring new tools and experiences to the market while encouraging innovation within the ecosystem.
Hot Take: Expanding Opportunities on Base Network
Maple Finance’s expansion to the Base network opens up new opportunities for lenders and borrowers in the crypto space. By leveraging the speed and efficiency of Base, users can access Maple’s Cash Management pool and earn a competitive yield on their stablecoin deposits. The integration with Coinbase Institutional customers also strengthens Maple Finance’s reach and credibility within the industry. As more pools and products are introduced on Base, the collaboration between Maple Finance and Base will continue to drive innovation and provide diverse investment options for both retail and institutional investors.
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