Maple Finance launched version 2.0 to reduce the risk of collective defaults caused by sudden events

ChainCatcher news, the institutional lending protocol Maple Finance has launched version 2.0, which aims to open the lending platform to a broader range of institutional borrowers to reduce the collective default risk caused by industry-specific events, and will further mitigate risks through finer risk parameters and enhanced capabilities to verify on-chain funds.

New features include that if a borrower fails to comply with the terms of the agreement, the lending pool will directly declare a default and provide a grace period to compel the borrower to repay as soon as possible. If payment is not made within the grace period, Maple Finance will immediately proceed with liquidation and recovery efforts. Additionally, Maple Finance supports instant deposits and withdrawals without the need to wait for a 30-day fund lock-up period.

It is reported that after the FTX collapse, Maple Finance experienced two significant defaults by borrowers on the platform. (Source link)