Decentralized Credit Protocol Maple reported That none of the positions of the platform users was liquidated during the price accidents of 2 February, which did not result in bad debts.
It also reported that users deposited $ 10 million to strengthen their margins during the period to prevent liquidation events. More than $ 10 billion was liquidated in one day, because Ethereum (ETH) briefly fell in the low price area of $ 2,000 and large cryptocurrencies experienced falls ranging from 10% to 30%.
Maple is a decentralized credit protocol in which users deposit assets into a pool that acts as a credit line for institutions. According to rwa.xyz factsMaple obtained $ 2.5 billion in loans from 7 February.
The report emphasized that Maple’s Blue Chip and High Yield Secured Lending Products remained completely overcollateral during this volatility, so that this was attributed to margin calls that were issued before colland levels became crucial.
The secure swimming pool with high returns saw $ 2 million in inflow during the massive liquidations on 2 February.
Maple’s Blue Chip Secured Lending Pool only accepts Bitcoin (BTC) and ETH as collateral, in the hands of qualified preservators. In the meantime, the secure pool achieves high yield with high yield by insuring loans supported by specific digital assets and reinvesting the collateral when deploying or secure lending.
Sirup is a pool that combines both strategies to increase the yields, which means more risks are held. The Pool issued margin calls of up to 35% of its loans, which led to $ 5 million in new deposits.
Lower borrowers placed another $ 7.4 million in collateral and repaid $ 7.4 million in loans, which strengthens Maple’s loan book stability.
From 6 February, the collateralization levels on Polish were on average 165%.
The report also emphasized that the available yield options were withdrawn into defi-protocols, while their safes continued to achieve annual returns.
Aave processes $ 210 million in liquidations
Aave also worked as intended during the major liquidations on 2 February. According to Chaos Labs factsThe Geldmarkt successfully processed $ 210 million in liquidations while retaining zero extra bad debts.
Chaos Labs emphasized that Aave’s liquidation mechanisms ensured that positions were arranged efficiently. Most liquidations occurred on the main body of Ethereum, which minimizes losses for the protocol.
Despite the extent of the liquidations, the existing unrecognizable debts of Aave fell by 2.7% due to the falling value of debt activa.
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