The total value locked (TVL) on Maple Finance, an institutional capital marketplace on Ethereum, was $83 million on Friday, August 30, reaching its highest level since the end of 2022.
Maple enables institutional and accredited investors to lend and borrow crypto.
For lenders, Maple offers several pools, such as High Yield Secured Lending or High Yield Corporate Loan, allowing investors to deposit USDC or Wrapped Ether (WETH) and aim for an annual percentage yield (APY) of up to 20%.
Maple reports over 80 institutional users borrowing against its pools.
According to DefiLlama, the increase in Maple’s liquidity that it tracks has been driven by Syrup Finance, a decentralized finance (DeFi) yield platform that unlocks its institutional yield for the wider DeFi ecosystem, enabling retail investors to target generous returns.
Since its June launch, Syrup’s TVL has increased to $31.75 million, doubling since the beginning of August.
Syrup’s daily inflows hit a record $8 million on August 8.
Unlike Maple’s more selective ecosystem, Syrup allows anyone to connect a non-custodial wallet and deposit crypto to target APY of up to 15%. The yield is derived from Maple’s provision of overcollateralised loans to institutions.
Besides the conventional yield, Syrup provides so-called drips rewards to early users. The points system converts user engagement into rewards, encouraging increased activity on the platform.
While DefiLlama reports over $30 million for Syrup and over $40 million for Maple’s pools, the platform’s own data on Dune suggests a record aggregate TVL of over $359 million, with Syrup’s TVL at a record $83 million as of August 29.
The two largest pools on Maple are High Yield Secured and Blue Chip Secured, which enable lenders to deposit USDC and target APY figures of 17% and 10%, respectively.
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