Maple Finance has introduced Syrup, a DeFi protocol offering secured institutional lending, despite lingering skepticism from the FTX-Alameda collapse.
On May 28, Maple Finance, an institutional lending platform in the decentralized finance (DeFi) space, launched Syrup, a new protocol aimed at providing institutional yield to the DeFi community.
The Syrup Launch
Syrup offers users permissionless access to secured institutional lending. By depositing Circle USD (USDC) on the platform, users receive syrupUSDC liquidity pool (LP) tokens, which they can use to earn yield.
According to a press release, Maple Finance will use fully collateralized loans to the largest crypto institutions to generate the yield. This move, however, has been met with some skepticism within the community, especially in light of the challenges Maple Finance faced following the FTX-Alameda collapse and the severing of ties with Orthogonal Trading in December 2022.
Summary Review: The launch of Syrup by Maple Finance represents a significant step in providing secured institutional lending within the DeFi space. Despite the hurdles from the FTX-Alameda fallout, the new protocol aims to offer robust yield opportunities, though it remains under close scrutiny from the community.
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