Maven 11 has introduced a Permissioned Pool with assistance from Maple Finance.
The initial pool size will be $40 million in USDC with a decent risk-adjusted return to investors. Initial participants for the pool include Flow Traders, Wintermute and Auros.
The pool may issue loans to various borrowers with whom the Maven 11 team has a commercial history and established track record. These borrowers are described as being “premier” low-latency trading companies in crypto-assets with market “neutral” strategies that have a solid and established track-record borrowing from Maven 11 pools on Maple Finance.
Flow Traders, an international market maker, will reportedly participate for the very first time.
Michael Lie, Head of Digital Asset Trading at Flow Traders said:
“This new pool, created by Maven 11, is an exciting opportunity for Flow Traders to expand its footprint within DeFi. At Flow Traders, our focus is to work with partners who are actively contributing to the development of the Digital Asset space and this new pool is another highlight of how Maven 11 is innovating in this space. We are looking forward to further building our partnership with them.”
The funds in the Permissioned Pool have been offered by institutional investors, including crypto-investment platforms Midas and AQRU and Qredo, the crypto-asset self-custody solution.
Investors (along with borrowers) may be whitelisted and have to adhere to the Maple Finance’s applicable KYC/AML policies.
Balder Bomans, Chief Investment Officer at Maven 11 remarked:
“Our journey with Maple as an on-chain credit marketplace started with a strong belief of transparency in capital markets. The last few months have further underwritten our bull case of transparent on-chain credit markets. Institutional investors have been noticing the innovation and efficiency Maple brings and we are very proud to launch this new pool with a respected institution such as Flow Traders.”
The capital on Maple Finance’s platform reportedly resides in Lending Pools, each managed by a Pool Delegate.
As a Pool Delegate, Maven 11 establishes the link between investors and firms, tasked with determining the creditworthiness of borrowers and also setting out the terms of the investment, like collateralization ratio and interest rates.
In addition to the permissioned/KYC pool in USDC, Maven 11 manages permissionless pools that are open to investors: one being denominated in USDC and the other in wETH.