[INVESTMENT] Maple Vault Deployment

I was taking a look at our Treasury in terms of USDC deployment and I saw we have some concentrated positions that is worth considering to diversify across other protocols.

Maple Finance is a decentralized corporate credit market. It offers globally accessible, diversified fixed-income yield opportunities by lending to a pool of premium crypto institutions. Since its launch in May 2021, the Maple platform has originated 69 loans with a total value of over $500M.

Their interest rates are attractive, usually in the range of 7/8% for a 90 days lockup. The pool of investors which have access to the loans are Market Makers, which are verified and legally accredited with Maple to take out loans (essentially this is uncollateralized lending at institutional level backed by 1) reputation and 2) legal enforcement in case they default on the debt.

See reference url: Maple Finance

Pro: usually higher than market stable yield on USDC
Cons: 90 days lockup

In my view this is a good protocol to park some liquidity - happy to discuss with the rest of the DAO the exact amount

Current available pool is by X margin and yielding 7%: X-Margin: Lending Pools Built Differently | by X-Margin | X-Margin | Jun, 2022 | Medium

I like this, the yield is organic and the chance of default of a major MM are relatively low imo.

What about deploying 100k (we should have around 800k in cash)? I would remove them from USDC Solend where they currently yield <3%

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How do you guys still feel about this given the wave of defaults of the likes of three arrows etc?

Having seen it what has happened and also considering our specific treasury situation (e.g the cash in stables will be essential for us to be deployed wisely and to make sure it will be our driver of alpha and performance in the next bull run whenever that will be), IMO we should keep the USDCs idle or in very safe protocol even if we lose the potential of 5-10% apy

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