PROFITABLE’

Summary from the TLDR Crypto newsletter

Maple Finance, a crypto lending protocol, has mostly switched from under-collateralized to over-collateralized loans due to the extended bear market impacting the creditworthiness of borrowers. As a result, only 10% of outstanding loans on the platform are under-collateralized. Despite a significant loan default in December 2022, the platform's value has slowly risen due to offering underwritten loans and access to US Treasury yields.