{"id":527126,"date":"2022-12-15T02:43:47","date_gmt":"2022-12-14T23:43:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/maple-finance-2-0-overhaul-aimed-at-speeding-up-the-defaulting-process\/"},"modified":"2022-12-15T02:43:47","modified_gmt":"2022-12-14T23:43:47","slug":"maple-finance-2-0-overhaul-aimed-at-speeding-up-the-defaulting-process","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/maple-finance-2-0-overhaul-aimed-at-speeding-up-the-defaulting-process\/","title":{"rendered":"# Maple Finance 2.0 overhaul aimed at speeding up the defaulting process"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a7d3929d9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a7d3929d9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/maple-finance-2-0-overhaul-aimed-at-speeding-up-the-defaulting-process\/#%E2%80%9D_Maple_Finance_20_overhaul_aimed_at_speeding_up_the_defaulting_process_%E2%80%9C\" >&#8221; Maple Finance 2.0 overhaul aimed at speeding up the defaulting process  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Maple_Finance_20_overhaul_aimed_at_speeding_up_the_defaulting_process_%E2%80%9C\"><\/span>&#8221; Maple Finance 2.0 overhaul aimed at speeding up the defaulting process  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvMTVjY2U2NDctYWJjNC00ZmQ2LWE3ZjItNmQzOGUxZjY4N2Y0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-30a6cf80>Maple Finance is a decentralized credit market powered by blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>. Instead of requiring overcollaterlization of loans, it instead allows managers, called \u201cPool Delegates\u201d to issue loans from its lending pools based on a set of risk-management criteria, according to the protocol\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/maplefinance.gitbook.io\/maple\/maple-for-lenders\/role-of-the-pool-delegate\">documents<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Introducing Maple 2.0.<\/p>\n<p>Maple 2.0 is a fundamental overhaul of the smart contract architecture. The new contracts are modular and robust and will facilitate Maple bringing capital markets on-chain. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/5GGsMXaXhv\">pic.twitter.com\/5GGsMXaXhv<\/a><\/p>\n<p>\u2014 Maple (@maplefinance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/maplefinance\/status\/1603035446656831491?ref_src=twsrc%5Etfw\">December 14, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>However, in the wake of FTX&#8217;s collap, the platform experienced two major defaults from borrowers on the platform.<\/p>\n<p>On Dec. 1, algo trading and market maker Auros Global missed its payment of 2,400 Wr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed Ether (wETH) following Alameda\u2019s demise, causing the loan to go into a five-day grace period. That grace period has since passed, and the borrower has begun to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/M11Credit\/status\/1601950738002878465\">incur<\/a> penalties, according to a post by lender M11Credit. <\/p>\n<p>Days later on Dec. 6, crypto hedge fund Orthogonal Trading admitted to having been \u201cseverely impacted by the collapse of FTX,\u201d prompting M11Credit to issue a notice of default on the funds $36 million of loans. <\/p>\n<p>The new protocol overhaul, dubbed \u201cMaple 2.0\u201d will upgrade its smart contracts so that defaults such as these can be more quickly handled and settled by Pool Delegate. <\/p>\n<p>Previously, loans could only be put into default if a borrower missed a payment and the grace period passed. This meant that collateral could not be liquidated even if the borrower admitted in advance that they couldn\u2019t make payments.<\/p>\n<p>In a blog post <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/maple.finance\/news\/maple-2-0-new-smart-contracts-products-and-our-2023-strategy\/\">explaining<\/a> the platform\u2019s new features, Maple said that in the instance that a borrower meets a condition of default, a Pool Delegate will now be able to declare an early default, which will bring the loan payable im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely. <\/p>\n<p>Furthermore, when a borrower doesn\u2019t pay within the grace period, the Delegate can liquidate the loan \u2014 meaning all lenders within the pool can realize a loss immediately while recovery is pursued, it added. <\/p>\n<p><strong>Related: <\/strong><strong>Politicians attack crypto, demand regulation at FTX congressional hearing<\/strong><\/p>\n<p>The new version of Maple Finance also includes features meant to make quality of life changes to the lending platform.<\/p>\n<p>Withdrawals can now be scheduled and prorated, and lenders can request withdrawals at any time, whereas previously they needed to wait a minimum of 30 days to withdraw after their deposit. <\/p>\n<p>Pool delegates now provide First Loss Capital, making them the first to suffer in the event of a default. The Maple team believes this will more closely align pool delegates&#8217; interests with the interest of lenders. <\/p>\n<p>It also introducing automatic compounding of interest so that interest earned is automatically reinvested into the pool, removing the administration of redepositing.<\/p>\n<p>Other changes include the adoption of ERC-4626 standards, allowing for more decentralized finance (DeFi) integrations and partnerships, as well as improved data and dashboards.<\/p>\n<p>Crypto lending platform Maple Finance has unveiled a major protocol upgrade aimed at making defaults and liquidation procedures less cumbersome in the wake of recent defaults.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/maple-finance-2-0-overhaul-aimed-at-speeding-up-the-defaulting-process\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Maple Finance 2.0 overhaul aimed at speeding up the defaulting process &#8220; Maple Finance is a decentralized credit market powered by blockchain technology. Instead of requiring overcollaterlization of loans, it instead allows managers, called \u201cPool Delegates\u201d to issue loans from its lending pools based on a set of risk-management criteria, according to the protocol\u2019s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":527127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/15cce647-abc4-4fd6-a7f2-6d38e1f687f4.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,77595,103657,70610],"class_list":["post-527126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-lending","tag-upgrade","tag-finance"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/527126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=527126"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/527126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/527127"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=527126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=527126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=527126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}