The lending platform is expanding into the Solana network in the dialect to reach a broader class of maple finance users.
According to the June 5 announcement shared with cointelegraph, the company is deploying its syrupsad yield-bearing stabeloin to Solana-based platforms Kamino and Orca. The coin was previously available only on the atherium blockchain.
Solana integration of maple begins with $ 30 million in liquidity, which the company says that the ecosystem will “a deep and stable foundation for” borrowing, trade and collateral provision “.
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Integration was operated by an integration with the Crosschain Interoperability Protocol (CCIP) of the Chenlink, which Solana went live on Mennet on 19 MayCCIP Etreum allows for data transfer in virtual machines and solana virtual machines, and is said to “accelerate cost -effective scaling.”
Maple co-founder and CEO Sid Powell said in a statement, “Solana’s expansion unlocks a high-speed, high-capacity environment, where maple’s products can reach the broader class of users-from the constituencies to advanced DEFI participants,” a statement said Maple’s co-founder and CEO SID Powell.
Solana has a decentralized finance ecosystem. Total price lock on network (TVL) Rose 500%in the last 18 months, $ 1.4 billion to $ 8.4 million in December 2023.
In Solana Ecosystem, the lending protocol that may be included in Maple Save, Margin.Fi, Raine and Port Finance. Maple has a $ 1.3 billion TVL as this writing.
Ethereum still leads all blockchain in onchain value, with assets of $ 61.4 billion, it is one of the more popular sites for decentralized finance (Defi) despite 43%. Decline Since 2021. However, it has faced growing competition from other blockchain including Solana.
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