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On today's issue:
Trump and crypto markets
Maple Finance
DeFi tokens
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$MAGA has won the elections. Again. It's effects on crypto markets are positive, with major assets moving 10%+ on the 24h. It's also a major win for prediction markets, as Polymarket actually forecasted all states perfectly.
Trump has stated multiple times he wants the US to be the place for crypto innovation to happen, he also wants senator Lumis' crypto treasury bill to be approved, in such case, the US government would buy or hold 1M of Bitcoins as part of a strategic diversification, holding 5% of the total supply, very similar to that of what they hold in gold. Coincidence?
Over this year, Maple's TVL and revenues have grown 6x. This comes largely from the launch of Syrup, which has the goal of making yield accessible to institutions, this yield is coming from overcollateralized loans to institutional borrowers, allowing yields to be stable double digits. In November 13th, Maple will launch $SYRUP the governance token. "Through SYRUP staking, fee revenues generated from Maple’s and Syrup’s lending operations will be used to buy back the SYRUP token and form part of the token emissions that go to stakers. Staking rewards and governance capabilities form the basis for long-term partnership between the Maple protocol and active participants. In the first 90 days after token launch, a fixed amount of SYRUP emissions will go to SYRUP stakers, ensuring that all early stakers are incentivised with a staking yield for participating actively in the growth of the protocol. Existing MPL holders will simply be able to convert 1 MPL to 100 SYRUP."
Outpacing the sector, Maple deposits have grown at an accelerated rate over this year.
"Maple Blue Chip Secured pool provides the security of only accepting BTC and ETH collateral, held in institutional custody, while Maple High Yield Secured generates a higher yield by underwriting loans backed by select digital assets and reinvesting the collateral in staking and/or secured lending opportunities. Syrup yield is derived from a blend of both."
The total Marketcap of DeFi tokens has grown a LOT from the election results. From 70B to 82B, with major winners being $COW, $LDO, $AAVE, $MRK, $JTO, $MPL and much others. Why? Regulation will come, more users will come. #Bullish
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Disclosure: All content published is for informational purposes only, and does not constitute any sort of financial advice.