After a year of research and development, we are excited to announce that the Maple protocol will be deployed to Ethereum mainnet on May 14!
Maple's decentralized corporate debt marketplace will grant crypto-native companies access to on-chain growth capital. Earlier this month, we conducted our initial token distribution through a Balancer LBP and welcomed over 1000 new MPL holders to the community. We're looking forward to continuing to grow our community through the introduction of our Liquidity Mining program.
Following the mainnet launch, the inaugural Orthogonal Trading Liquidity Pool will be established. This Liquidity Pool (LP) will be capped at $15m and will provide loans to an exclusive list of institutional borrowers. The Liquidity Pool will be staked by Framework Ventures and Polychain Capital who will be staking a combination of MPL and USDC to serve as first-loss capital for the Liquidity Pool. This Liquidity Pool will take a guarded launch approach and will open for funding by institutional participants and retail investors shortly after establishment.
Stay tuned for details on the first cohort of Maple's exclusive borrowers next week.
There will be an opportunity to participate in the Maple Liquidity Mining program by providing capital to the Liquidity Pools on Maple. On May 19th, the institutional portion of LP funding will begin, enabling cornerstone participants and whitelisted early Maple community members to deposit USDC to be lent on the platform [this portion will be approximately $12m].
On May 21st, LP funding will be opened to the broader Maple community and DeFi ecosystem [approximately $3m of the pool]. This guarded approach is being taken to protect user funds. Within 4-6 weeks after the initial pool opens, an additional $15m of loans will be added to the pool. A second Liquidity Pool will be also be opened for liquidity mining.
For the first $15m tranche, depositing USDC on Maple will earn participants a USDC yield and MPL rewards. The mining rewards rate will be 20k MPL for each $1m funded in the pool with USDC deposits locked for 6 months. Early supporters from the community have been whitelisted for early entry. This program will have an underlying 10-12% USDC yield from the loans and additional MPL rewards on top of this.
14 May - Mainnet deployment
19 May - Whitelisted portion of LP funding opens
21 May - LP funding opens to all
25 May - First $15m loans funded