Maple Finance launches on the Base network, aiming to expand its institutional client base at Coinbase

ChainCatcher news, according to Decrypt, the crypto lending protocol Maple Finance has officially launched on the Base network, marking its third blockchain platform after Ethereum and Solana. The first pool offered on Base is Maple's cash management pool, which currently has an annualized yield of 4.8%, sourced from short-term U.S. Treasury bonds.

This pool was launched in August, benefiting from the high interest rates on U.S. government debt. Joe Flanagan, co-founder of Maple Finance, stated that most of the interest in this fund pool comes from "Web3 project treasuries," adding that "over 50% of the deposits" come from this group. Flanagan also revealed that this integration means Maple will have direct access to thousands of existing and future Coinbase institutional clients. Maple Finance plans to launch at least one new pool on Base by the end of this year.