225M $XRP is currently working as collateral on @Maple .
Here's the setup, according to KuCoin News:
• 225m XRP posted as collateral
• Backing $151.8m in stablecoin loans
• Collateralised at roughly 179% to 189%
• Two loans mature in December, one in January
So institutions are borrowing against XRP rather than selling it, and Maple is holding well over a dollar and a half of collateral for every dollar lent out.
Overcollateralised, institutional, and refreshingly boring. As credit should be.
Meanwhile $SYRUP sits at $0.1587, down 2.7% on the day. The loans are working even if the chart isn't 🙃
Are you watching those December maturities? 👇
#MapleFinance #XRP #SYRUP #DeFi
Here's the setup, according to KuCoin News:
• 225m XRP posted as collateral
• Backing $151.8m in stablecoin loans
• Collateralised at roughly 179% to 189%
• Two loans mature in December, one in January
So institutions are borrowing against XRP rather than selling it, and Maple is holding well over a dollar and a half of collateral for every dollar lent out.
Overcollateralised, institutional, and refreshingly boring. As credit should be.
Meanwhile $SYRUP sits at $0.1587, down 2.7% on the day. The loans are working even if the chart isn't 🙃
Are you watching those December maturities? 👇
#MapleFinance #XRP #SYRUP #DeFi
