TokenPost
Hello. This is the TokenPost Podcast. Today, we'll take a deep look at the Tiger Research data posted on TokenPost on July 2nd. These days, because of things like the Bitcoin spot ETF approval, institutional investors are really coming into the cryptocurrency market.
Host
Yes, the interest is very hot.
TokenPost
But it seems like the issue is going beyond simply buying assets, how to effectively manage them.
Host
That's exactly the point. Yes.
TokenPost
For example, companies like MicroStrategy that have a lot of Bit have a high risk burden if they manage it directly
Host
That's right. It's not easy.
TokenPost
And there's also no place they can really trust to entrust it to.
Host
That's right. So the demand for asset management services with the level of expertise and credibility of traditional finance is explosively increasing in the cryptocurrency market.
TokenPost
Ah, the existing DeFi was somewhat insufficient for institutional investors.
Host
Because institutions want a more customized and reliable service. While existing DeFi is innovative, there were some shortcomings in terms of regulatory compliance and risk management that institutions require.
TokenPost
So Maple Finance has now emerged.
Host
Yes, they've captured that opportunity.
TokenPost
But Maple Finance is mostly known as an on-chain lending platform that connects fund providers (those who lend) and institutional borrowers.
Host
Basically, yes. Based on credit.
TokenPost
But can this be called asset management? It seems a bit simple.
Host
That's a very good question. While it may look like a simple loan intermediary on the surface, the actual operation is much more complex and sophisticated.
TokenPost
Oh, really? How so?
Host
Maple carefully examines the credit rating of institutional borrowers. You can think of it as similar to how banks assess corporate loans.
TokenPost
They conduct credit evaluations directly.
Host
And it doesn't end there. The collateral received during the loan process
TokenPost
Ah, utilizing the collateral.
Host
That's right. They actively use it by staking or lending it to other institutions to generate additional revenue.
TokenPost
Ah, so it's not just connecting, but strategically managing funds, managing risks, and going through the entire process.
Host
Exactly. That's why we can call this on-chain asset management, not just intermediation.
TokenPost
I see. So what are Maple Finance's specific products and differentiating points?
Host
Broadly, there are products for institutional investors and products that general investors can also access.
TokenPost
Yes, yes.
Host
The institutional product is called Maple Institutional, which is divided into two types. A blue-chip product focusing on stability, which uses high-quality assets like Bit and Ethereum as collateral.
TokenPost
Stable ones.
Host
And a high-yield product that pursues higher returns. This is a method of more actively managing collateral.
TokenPost
Reducing risk and increasing returns.
Host
And especially the Bit revenue product launched this year is noteworthy.
TokenPost
A coin product?
Host
Yes, if institutions entrust their held Bit to specialized custody providers like BitGo or Copper, they can earn additional interest income using technologies like Core DAO's Dual Staking.
TokenPost
Oh, so they can store safely and earn interest.
Host
That's right. From an institutional perspective, they don't need to worry about complex technical aspects as Maple handles everything.
TokenPost
That makes sense. So how can general investors participate?
Host
For general investors, there are separate small pools like syrupUSDC or syrup syrupUSDT.
TokenPost
Ah, syrup syrup. Yes.
Host
Yes, the interest rates might be lower than institutional products. But when participating, they receive Drips points that can be converted to SYRUP Token later. It's a kind of reward system.
TokenPost
Encouraging participation through Token rewards.
Host
Yes, and it's already raised $1.9 billion, so the response is quite hot.
TokenPost
Wow, $1.9 billion is huge. That means a significant amount of retail funds have come in.
Host
That's right.
TokenPost
The product types are diverse and interesting, but in fact, the operation method and especially risk management are really important for such platforms. What are Maple's special points
Host
Ah, that's right. From my perspective, Maple's real strength lies in the team's expertise and risk management system.
TokenPost
National expertise?
Host
Yes, if you look at this team, they have veterans with extensive experience in traditional finance, such as asset management and credit evaluation, working together with cryptocurrency technology experts. These two areas of experience are combined.
TokenPost
So they are people who know both sides.
Host
That's right. They directly review borrowers and their risk management approach is different. For example, when the collateral ratio drops, instead of automatically liquidating like other DeFi platforms, they first send a notification to supplement the collateral within 24 hours. It's somewhat more relationship-centered and predictable, similar to traditional finance.
TokenPost
Ah, they respond more flexibly.
Host
Yes, if liquidation becomes inevitable, they use OTC in the over-the-counter market to minimize market shock. They also have a very systematic withdrawal system.
TokenPost
This is definitely a method that institutions would like. Trust is important, after all.
Host
Exactly. And they are expanding their ecosystem by strategically partnering with other DeFi protocols like Spark and Pendle. Recently, they partnered with Cantor Fitzgerald, a global financial firm, which is a clear example of Maple's credibility in the institutional market.
TokenPost
Cantor Fitzgerald is a really big company, that's impressive. So how do you see the future prospects? If institutional funds continue to flow in, the role of such platforms seems likely to grow.
Host
Yes, Maple has very ambitious goals. They aim to manage annual loan volumes up to $100 billion by 2030.
TokenPost
Dollars? You mentioned it's around $2.2 billion now
Host
Yes, so that's almost a 45-fold growth target.
TokenPost
That's an incredible growth.
Host
Indeed. To achieve this, they plan to increase products using not just Bitcoin but other assets like Ethereum and further strengthen connections with traditional financial institutions. There's a point listeners should pay attention to: in this institutional service market, once a customer is acquired, they tend not to change easily.
TokenPost
Ah, yes. Because trust relationships are important
Host
Yes, because relationships and trust are key, who first secures this market will likely determine the competitive advantage for the next few years. Maple is already building actual transaction records with institutions, so they can be considered to be in a very advantageous position.
TokenPost
The first-mover effect will be significant.
Host
Yes, and this also means that the cryptocurrency market is evolving beyond just a speculative space for individual investors to a sophisticated financial service institutional market.
TokenPost
The market is definitely maturing.
Host
That's right. So lastly, we can pose this question: As traditional financial methods and cryptocurrency technology continue to merge, how might the concept of asset management itself change in the future?
TokenPost
Indeed
Host
And how on-chain credit evaluation and risk management will create new challenges and opportunities is also an interesting point worth watching.
TokenPost
Yes, it seems to be a field with promising future prospects. Thank you for the detailed explanation today.
Host
Yes, thank you.
TokenPost
This was the TokenPost podcast.
