Maple finance made an announcement about the loan to Alameda Research reaching $100 million. Alameda Research received the third tranche of the loan, which accounts for nearly half of the entire loan amount so far. The lending pool reached this milestone just after a few months since the approval of the loan. According to the new blueprints, the next milestone is set at $1 billion, with Orthogonal Trading from the Maple Ecosystem overseeing the operations.
This is the first-ever syndicated loan on the platform. The third tranche and the largest chunk of the loan, amounting to $47.25 million, was contributed by a whitelisted cohort of lenders. Abra deposited $25 million while existing lenders, including CoinShares, collectively lent $22.25 million.
Syndicated loans are limited to only credible institutions that are not based in the United States of America. Institutions must undergo KYC-AML procedures to become eligible to participate in lending. This helps the platform to ensure that the money is not manipulated for illicit purposes. The advantage of syndication is that the loan amount can be expanded whenever necessary, differentiating syndicated loans from traditional debts.
Maple Finance is a project introduced to transform the capital markets with the introduction of digital assets. This platform offers transparency and capital-friendly lending pools with yield sources. Maple has been showing great potential lately, with institutions lining up to invest in this up-and-coming project. In less than ten months since the launch, Maple Finance’s pools have accumulated $611 million in liquidity, with over $683 million originating on the platform. Maple Finance has expert analyst teams, known as Pool Delegates, to verify and validate the loan procedures.