Maple Finance closed a $1.3m seed round to fund development of its decentralized corporate debt marketplace.

Participants in the seed round included Cluster Capital, Framework Ventures, Alameda Research, FBG Ventures, One Block Capital, The LAO, Bitscale Capital, Kain Warwick, and Stani Kulechov among others.

Maple is a decentralized corporate debt protocol allowing leading crypto corporates to borrow capital efficiently including funds, market makers, exchanges, and crypto miners. Maple uses a 'peer-to-pool' design with loans funded by Liquidity Pools that offer Investors access to a diversified, high-yielding pool of corporate & institutional loans. All Liquidity Pools will be managed by an experienced Pool Delegate.

The fresh capital will speed up the release of Maple's beta version and launch of the native token, MPL. The MPL token will enable participation in protocol governance, share in revenue generated by the protocol and provide collateral enhancement to Liquidity Pools. Since completing the raise, the Maple team has expanded to include six full time developers enabling a rapid launch targeted for Q1 2021.

The launch will feature a limited set of Launch Pools to be co-managed by an experienced external party acting as a Pool Delegate and Maple's founders. The Launch Pools will feature a group of highly reputable and recognised names in the space. This is a unique opportunity for DeFi users to gain exposure to the leading corporates in the space. All Liquidity Providers that participate in the Launch Pools will earn liquidity mining rewards in MPL tokens. To learn more and stay up to date on this unique opportunity, subscribe here.

“While we are reimagining finance, we don’t need to reinvent it, and DeFi native bonds are one of the most promising new instruments right now,” - Kain Warwick, Synthetix Founder and Maple seed investor.

“Top institutions with solid balance sheets, sound reputations, and strong cash flows will soon be able to access capital-efficient finance, enabling further growth and adoption of crypto globally.” - Co-founder and CEO, Sid Powell.