Maple 2.0 upgrade aims to improve current flaws and provide flexible scaling solutions.
Maple Finance, an institutional crypto-capital network and crypto-lending platform, has introduced a protocol update dubbed Maple 2.0.
According to the blog post shared on December 14th, Maple 2.0 will function as a fundamental overhaul “that improves on current flaws and provides a flexible and strong base to scale.”
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Among the new features, Maple 2.0 will allow users to schedule and prorate withdrawals as well as request to withdraw their funds at any time. In the previous version, lenders would have to wait for a “30-day capital lock-up to lapse.”
On top of that, the new update will automatically reinvest earned interest into the pool and provide improved data and the dashboard. The most crucial upgrade may be that the First Loss Capital is now provided by the Pool Delegate and “denominated in the pool asset only.”
Moreover, Maple Finance integrated a “new and more immediate default process.” The company discussed the new feature stating:
In the instance when a borrower meets a condition of default, a Pool Delegate will be able to declare an early default. This declaration will bring the loan payable immediately. When a borrower doesn’t pay within the grace period the Delegate can liquidate the loan, and all lenders in a pool will realize a loss immediately whilst recovery is pursued.
In a tweet regarding the new update, Maple Finance stated that the features were implemented taking into account the observations and expectations of users and partners.
These developments are informed by experience, community feedback and user testing with long-term partners and users.
In its blog post, the company also revealed its plans for 2023. Maple Finance is expecting to “diversify lending opportunities, attract new and reputable Delegates, and build cutting-edge digital asset technology on Ethereum.”
