Maple Finance identifies its short and long-term aims as the project goes live on Solana.
Multi-Chain Maple
Maple Finance went live on Solana, and secured partnerships with the likes of Margin Trading and Circle Pay alongside other Solana natives, allowing them to start with $45 million to issue uncollateralized.
The move has been hotly anticipated since the turn of the year when Web3Wire sat down with CEO Sidney Powell, and Head of Solana at Maple, Quinn Barry. The team was excited about the possibilities available on Solana during that interview. Those ambitions have now been realized after Maple Finance confirmed the news via Twitter on April 25. The team hopes to grow its initial pool to $400 million and issue $1 billion loans through Maple Solana by the end of the year.
Maple Finance is very much focused on providing efficient capital and in Solana, they’ve found a worthy chain. We caught up with the Head of Solana at Maple, Quinn Barry, regarding the latest exciting developments.
“Maple is chain agnostic and we’ll move where efficient capital is needed. Solana is special however – it has a vibrant ecosystem of DAOs, NFT projects, holding significant SPL USDC, but the yield options have been lacking relative to ETH,” Barry explained. “On the borrowing side, there hasn’t been a native credit-efficient option for institutions until we introduce undercollateralized lending today. Solving problems like this is exciting and what we plan to do long-term.”
Problem-solving for the long-term remains a solid and broad aim for the project if Solana is to go and have the kind of influence many anticipate it will. Maples’s short-term goals were also clearly defined by Barry:
“In the short-term, we will launch single-borrower pools, permissioned pools, begin to fund scale ups with debt-financing and offer more flexible and innovative credit options for borrowers. I truly believe Solana will be the financial settlement layer of the future, and we’re excited to join at its genesis and grow the ecosystem together.”
Web3Wire will be covering Maple Finance’s progress on Solana closely. Maple Finance’s impact on the Solana ecosystem will be interesting to track.
What is 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.
Where to find Maple Finance:
Source : web3wire.news
