Maple Adds EtherFi's weETH for USDC Loans
Maple, a decentralized credit platform, now accepts EtherFi's weETH as collateral for its loans. This move provides access to USDC loans while giving borrowers the benefit of ETHFI incentives. As a major decentralized finance player, Maple connects lenders and borrowers through onchain liquidity pools. The newly introduced weETH pools come with a temporary 2% APY rebate in ETHFI for the first $50 million in loans backed by the token. These loans are overcollateralized with a term of two months and a minimum size of $5 million. According to Maple CEO Sid Powell, weETH plays an increasingly vital role as staking matures, influencing institutional capital allocation onchain. weETH is prevalent in DeFi restaking, with a circulating supply of $5.3 billion, three-quarters of which is used as collateral in various protocols.
FAQ
❓ What is the main benefit of Maple integrating weETH?
Borrowers can access USDC loans and earn ETHFI incentives by using weETH as collateral.
❓ How is the new weETH pool incentivized?
Maple offers a 2% APY rebate in ETHFI on the first $50 million in loans backed by weETH.
❓ What is the required size for loans using weETH as collateral?
The loans must be overcollateralized with a minimum size of $5 million and a 2-month term.