Maple Finance, one of the fastest-growing players in decentralized finance (DeFi), has announced a partnership with EtherFi, the fourth-biggest DeFi platform by assets.
In a statement, Maple Finance said that it will bring EtherFi’s weETH as collateral for its lending platform. This integration will introduce a new institutional liquidity venue for restaked ETH holders.
As a result, it will allow qualified borrowers to access USDC loans while earning ETHFI incentives.
Most importantly, Maple Finance also announced an incentive to encourage borrowing using weETH. For the first $50 million in loans backed by weETH, Maple will provide a limited-time 2% rebate in ETHFI loans.
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These loans will have a minimum size of $5 million and have a 2-month term. In a statement, Sid Powell, Maple’s founder said:
“As staking continues to mature, we’re seeing restaked assets like weETH take on a more central role in how institutional capital allocates on-chain. This integration reflects our long-term view that staking is not just a yield source, but a foundation for the next generation of collateral and credit markets.”
This collaboration brings two of the biggest players in decentralized finance. Maple Finance has built the largest on-chain asset manager, with nearly $2.5 billion in assets under management. syrupUSD, its yield-bearing stablecoin, is nearing a market capitalization of $1 billion.
EtherFi is also a significant player in DeFi, offering a platform for staking Ethereum. weETH, its restaked asset, has attracted over $5.3 billion in assets, a figure that continues to grow. ETHFI, its token, has a market capitalization of over $355 million, while Maple’s SYRUP is valued at over $672 million.
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