Maple launches version 2.0 a week after a $36M default by FTX-hit borrower Orthogonal Trading

Maple Finance/Syrup lending (syrupUSDC, syrupUSDT)

A week after Orthogonal Trading failed to repay $36M, saying its money was trapped on the collapsed FTX exchange, Maple released version 2.0. Pool managers can now call a default immediately, and lenders can deposit and withdraw at any time instead of committing for 30 days.

• The bad loans sat in a pool run by the delegate M11.
• Delegates also got better tools to check borrowers' on-chain capital.
• Maple said it would seek borrowers outside crypto, such as fintech firms, to cut sector concentration.