Maple Finance, the leading debt platform in the crypto money industry, continues to work to fill the space left by its competitors. In 2022, central lending startups like BlockFi and Genesis went bankrupt, greatly shaking confidence.
The Maple team announced today that it will build a new lending platform. The platform called Maple Direct, which the developers are working on, will finance Web3 initiatives. This move of Maple, which had previously brought only borrowers and lenders together, shows that the project is moving in a different direction.
Pointing out the debt platforms that went bankrupt last year, Maple officials aim to increase their market share by taking advantage of the situation. Speaking to the crypto press, project manager Sidney Powell made the following statements:
– Sidney Powell, CEO of Maple Finance
“Due to the bankruptcy of the companies in question, there has been a big gap in the sector. Maple Finance, which has provided similar services before, can close this gap.”
How Will the New Platform Work?
Powell, the boss of the altcoin project, also explained how the new Maple platform will work. The Direct service, which will give direct credit instead of intermediation, will operate on the existing interface. Maple developers, many of whom have ties to the banking industry, believe they can handle this burden.
Maple was one of the crypto startups that was heavily impacted by the FTX bankruptcy in 2022. Wasted assets worth $ 54 million worried users of the platform. But over time, the team overcame the problems and restored confidence.
The native cryptocurrency of the leading DeFi project, MPL, is currently trading at $7.05.
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