Maple Finance today revealed that it now replaces Etherfi’s Wish – a token that again represents Ethereum (ETH) – as collateral for institutional loans.
According to Defillama, Maple is a leading decentralized finance (Defi) loan platform with almost $ 2.7 billion in total value (TVL). Etherfi is a liquid repair protocol with $ 6.4 billion in TVL with which users can use ETH while retaining liquidity.
The two leading Defi protocols have a partner to use borrowers to get USDC loans, with a limited time 2% APY discount in ETHFI for the first $ 50 million in loans, according to a press release viewed by the Defiant.
Each loan must be at least $ 5 million, lasts two months and must be supported by more collateral than the loan amount. The release explains that the loans “have been designed for allocators, treasuries and professional market participants who are involved in the evolving Stakeneconomy of Ethereum.”
This partnership marks a big step in connecting ETH deployment with institutional loans. By accepting repeated tokens such as says, Maple settings borrow against their deployed ETH without losing rewards.
Etherfi’s WEETH is one of the most popular repeated assets in Defi, with more than $ 5.3 billion in delivery and more than 65,000 holders, adding that about 75% of them are already used as collateral on platforms such as Aave.
“Repetition has been transferred from a niche experiment to a cornerstone of the evolving capital stack of Ethereum,” Maple CEO and co-founder Sid Powell told The Defiant. “With more than $ 2 billion in assets in management, Maple will change this momentum into real institutional activity.”
Powell said that by using Weth, investors have access to cash without giving up their valuable, income-generating assets and still earns Ethfi rewards.
“We see growing interest from funds and treasure chests who want to tap into repeated assets without adding operational complexity,” he said. “This launch reflects our wider position: setting it up is not only a yield mechanism, it is fundamentally for how credit markets are formed and scaled on the chain.”
This step comes only two weeks after Maple has announced a separate partnership with Lido Finance to offer StaBlecoin credit lines that are supported by Stanted Ether (Steth) collateral. Lido is the largest liquid deployment protocol, with more than $ 22 billion in TVL.
The new Etherfi integration builds on Maple’s strong momentum this year. The Platform TVL has increased by more than $ 2 billion since January. The native token, syrup, trades around $ 0.57, an increase of 25% compared to the past week and more than 70% in the past month.
Siroop 1 months price tag. Source: Coingecko
