X-Margin Partners to Launch Maple Solana, Opens $45M Pool
April 25, 2022
X-Margin is expanding our partnership with Maple by becoming the first team to operate an uncollateralized lending pool on Maple Solana. X-Margin is optimally positioned to serve as a Pool Delegate, as we are focused on building infrastructure that helps evaluate counterparty credit risk in a provably neutral and private way, ensuring counterparties can attest to their creditworthiness without ever revealing sensitive data. As a Pool Delegate, we will utilize the X-Margin platform to onboard and evaluate borrowers, helping create more open and transparent credit pools. Over $1.2 billion loans have been issued from six lending pools on Maple on the Ethereum blockchain, and is expected to continue their rapid growth on the Solana blockchain.
Maple acquired Avari at the beginning of 2022, in a bid to be the first multi-chain institutional lending application on Solana. Solana has advantages in terms of increased throughput and transaction speed, has a developing ecosystem and continues to draw substantial interest from institutional participants. The performance capabilities open possibilities for the future of DeFi lending on Solana, which aligns with X-Margin’s real-time risk capabilities.
Quinn Barry, Head of Maple Solana said, “By combining Maple’s tech with the scalable nature of the Solana blockchain and X-Margin’s superior privacy-preserving credit risk infrastructure, we are unlocking frictionless financing solutions for the entire Solana ecosystem.”
Infrastructure to Scale
X-Margin’s technology is blockchain agnostic, pulling private data from CeFi and DeFi, allowing for a more holistic and complete credit evaluation of a borrower. The privacy-preserving metrics allow for transparent lending and borrowing across the crypto ecosystem, enabling automated and data-driven credit allocation. The architecture allows for frictionless distribution of a borrower’s creditworthiness across multiple applications.
Maple + X-Margin SOL Pool Details
The USDC lending pool already has multiple committed borrowers, who are providing real-time and static financial information via the X-Margin platform. The transparency provided through X-Margin improves lender risk management to facilitate efficient credit for the Solana ecosystem. X-Margin and Maple aim to grow the pool to over $300m in loans over the next 6 months.
Darshan Vaidya, CEO of X-Margin: “Maple Finance’s multi-chain infrastructure continues to lead the way for institutional credit infrastructure in crypto. X-Margin’s privacy-preserving credit platform is a natural fit for this, helping to scale a more data-driven and transparent credit market in DeFi and CeFi. ”
Maple is a multi-chain institutional crypto-capital network available on Ethereum and Solana. Maple brings the trillion-dollar capital market on-chain, using smart contracts to remove time and cost frictions, and blockchains for immutability. Maple expands the digital economy by providing the tooling for credit experts to build lending businesses, which in turn facilitates uncollateralized lending for institutional borrowers and income opportunities for lenders. The economic potential of the future will be fulfilled by harnessing global capital and applying it to areas of greatest opportunity. For more information visit: maple.finance.
The X-Margin platform enables data-driven and transparent lending across CeFi and DeFi. The team has developed a private credit infrastructure that evaluates the real-time creditworthiness of borrowers while protecting sensitive data. X-Margin currently monitors over $3.5 billion of borrower assets and has facilitated over $400 million of loans. In September, X-Margin raised $8 million in a Series A funding round backed by leading digital asset investors. For more information on X-Margin, please visit xmargin.io.