Crypto institutional lending protocol Maple Finance has officially launched on the Base network, its third blockchain platform after Ethereum and Solana. The first pool to be offered on Base is Maple’s cash management pool, which currently has an annualized yield of 4.8%, derived from short-term U.S. Treasuries. The pool, launched in August, benefits from high interest rates on U.S. government debt.
Joe Flanagan, co-founder of Maple Finance, said that most of the interest in this pool comes from “Web3 project vaults,” adding that “more than 50% of deposits” come from this group. Flanagan also revealed that the integration means Maple will have direct access to thousands of existing and future Coinbase institutional customers. Maple Finance plans to launch at least one new pool on Base before the end of the year. (Decrypt)