On-chain lending platform Maple discloses $1.89 billion in loan collateral
According to TechFlow, on November 14, The Defiant reported that on-chain lending platform Maple stated that an additional proof of reserves verification confirmed that the total loan collateral across its three syrup lending pools amounted to $1.89 billion.
Maple disclosed that during the November 13 verification, the collateralization ratios for syrupUSDC, syrupUSDT, and syrupUSDG were 156.2%, 137.7%, and 150.8%, respectively. The Network Firm, the verification service provider, stated that this service is not an audit or attestation, and the accuracy and completeness of the data relied upon from Maple and third parties have not been independently confirmed by them.
The report noted that loan collateral differs from cash available for withdrawals, and syrup tokens represent fund pool shares invested in strategies such as institutional loans, with no guarantee of immediate redemption at their USD balances.
