Analysis of Maple and TrueFi: Alameda and Amber borrow the most, with large Maturity concentrated in late July and early August
Author：Joey Wu From WuBlockchain
Maple Finance is a lending protocol built on Ethereum and Solana that provides unsecured credit loan to institutions. Recently, an official release stated that starting the week of June 20, there may be a shortage of funds in the pool and lenders will have to wait for borrowers to repay their loans.
Related to the earliest studies from:
This article was inspired by it and was originally written by WuBlockchain.
Maple has issued a total of $692 million in loans, with the largest borrower, Alameda Research, having lent $116 million. However, Alameda Research was also a Maple depositor with a total of $89.17m, resulting in a net lending position of $26.37m.
In second place was Amber Group, which lent $89.8 million with interest rates ranging from 3.75% to 7.6% and maturity dates ranging from July 19 to December 10.
In third place was Nibbio, which lent $79.5 million with interest rates ranging from 7.1% to 9.75% and maturities from August 11 to October 29.
The remaining rankings are as follows.
The earliest maturity date for all outstanding loans is June 28 and the latest is December 10.
In addition, Maple Finance currently has $150 million in cash available for loans, excluding the Alameda Research pool (which is for its own borrowing only) of only $69.75 million.
Also facing deposit dried up is TrueFi, an institutional lending platform where borrowers must be white-listed institutions with $10 million or more in capital.
TrueFi has currently disbursed a total of $394 million in loans, with the largest borrower being Alameda Research, which has lent $137 million at 7.05% to 7.15% interest with a maturity date of early August.
The second largest borrower is Wintermute Trading, which has lent $92.05 million at 8.73% with a maturity date of October 15.
In third place, Amber Group lent $65.86 million with interest rates ranging from 9.23% to 9.35% and a maturity date of August 18.
The remaining rankings are as follows.
The earliest repayment date for all outstanding loans is July 15 and the latest is October 30.
On the deposit side, TrueFi has $407 million in total volume and 96.6% has been borrowed, leaving only $13.59 million in cash available for loans.
Both platforms are facing deposit dried up, with large maturity dates concentrated between late July and early August. However, since both platforms are unsecured lending and only stake platform Tokens to protect depositors’ rights, even if a default occurs, only depositors’ funds, the price of Tokens and borrowers’ credit scores will be affected, and there will be no impact on the crypto market (no liquidation of BTC or ETH).
In addition, Maple Finance published an announcement on its website claiming that Orthogonal acknowledges there is a $10M loan to Babel from the Orthogonal USDC pool on Maple, and has been in daily contact with Babel management since Babel halted withdrawals and is focused on protecting the interests of lenders.
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