Lending pool Maple CEO announced in his statements that they will grow the pool and expand their services.
The cryptocurrency market continues to overcome the challenges of 2022. Even though the bear market dynamics experienced in 2022 put the sector players in a difficult situation, investments continue.
Token Rises After Maple Finance’s Announcement
Maple Finance is a blockchain-based crypto lending protocol. Sidney Powell, CEO of the company, announced that the platform is preparing to launch a lending pool that invests in US Treasury bonds. This pool will allow accredited investors and corporate treasuries located outside the US to invest in US Treasury bonds.
Powell also noted that Maple plans to hold a community vote later this year on new tokens and the utility for its native token, MPL. The MPL token is up 23 percent ahead of the community call.
Maple Finance is recovering after a disastrous year in the crypto lending space. Following the sudden collapse of the FTX exchange in November, Maple suffered $36 million in credit defaults that resulted in heavy losses for its liquidity providers. Following this event, Maple released an upgraded version of its platform and launched a tax receivables lending pool last month.
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