The Bitcoin loan, the future of Finance? Maple launches $300M fund


New kind of loans – The ecosystem of decentralized finance aims to decentralize traditional financial services. Thus, many protocols offer marketplaces that connect borrowers and savers. Now, some protocols such as Maple Finance are trying to bring a new dimension to these loans.

Maple Finance and Icebreaker want to attract BTC miners

MapleFinance is a decentralized finance protocol deployed on Ethereum and Solana. The protocol was designed to meet the needs of institutions in terms of capital management.

Maple Finance sees the future of lending with cryptocurrencies.

Since its inception in May 2021, Maple Finance has issued nearly $1.8 billion of loans.

From now on, the protocol wishes to propose new methods of financing for companies belonging to the cryptocurrency mining sector.

On September 20, Maple Finance announced the creation of a new kind of pool in partnership with Icebreaker Finance. Thus, the two entities announced the creation of a pool of 300 million of dollars which makes it possible to provide guaranteed loans to mining companies.

“Recent market disruptions have caused lenders to pull out, while traditional financing vehicles have been slower to engage in this sector. Miners play a vital role in the growth of the crypto ecosystem. We are proud to expand a new financing vehicle to direct capital where it is needed most. »

Sidney Powell, CEO of Maple Finance

For their part, these loans will be guaranteed by the infrastructure as well as the machines of mining companies. Therefore, it is the first Maple Finance pool that supports physical collateral.

In practice, the fund will offer loans with an interest ranging from 15 to 20%.

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A solution against the massive resale of BTC?

In front of the market fall cryptocurrencies, many mining companies had no choice but to sell their precious BTC for cover running costs.

Indeed, there is no shortage of examples of companies that sold BTC last June:

  • Bitfarms sold 3,000 BTC;
  • Argo sold 637 BTC;
  • CleanSpark sold 339 BTC;
  • Core Scientific sold 7,202 BTC.

In total, this is more than 11,100 BTC sold by 4 different entities in June.

However, thanks to the new financial product from Maple Finance, the latter could now keep their BTC. Indeed, these companies could on the contrary keep their BTC and take out a loan by collateralizing the equipment they have.

Obviously, the BTC mining industry is extremely lucrative. So in August the miners shared an income of more than 20 million dollars.

The time of the financial giants’ interest in Bitcoin has come. And you, what are you doing to prepare for the future? Start getting acquainted with this exciting world, and don’t wait any longer for yourself create an account on Binancethe reference Bitcoin and crypto exchange (commercial link).



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