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The encryption lending protocol Maple integrates EtherFi weETH as collateral.
According to a news announcement from the Gate News bot, the encryption lending protocol Maple has integrated EtherFi's weETH as collateral for its on-chain credit platform. This integration will allow "eligible borrowers to obtain USDC loans while receiving ETHFI incentives."
Maple is a decentralized credit protocol that offers low and over-collateralized loans. The platform launched on Ethereum in 2021, connecting borrowers and lenders through on-chain liquidity pools.
The platform will provide a limited-time rebate of 2% annual interest rate in the form of ETHFI for loans supported by the first 50 million USD of weETH tokens, to incentivize its new weETH pool. These loans will be over-collateralized, with a term of 2 months and a minimum loan amount of 5 million USD.
Source: The Block