DeFi’s First Syndicated Loan
On last 18th November, Maple Finance and Alameda Research launched the first syndicated on-chain loan vehicle in DeFi space.
This vehicle is built by Maple Finance and will be used by Alameda Research first who is a quantitative crypto trading firm and founded by FTX’s Sam Bankman-Fried.
This lending vehicle will lend crypto from A single borrower lending pool to reliable non-U.S. institutions.
Syndicated loan is a loan provide by a group of lenders and bank coordinate as a middleman.
But in this crypto and decentralized world, there is no middle layer.
As of 22th November 2021, I could find 4 liquidity pools that are for Alameda Research, Maven 11, Blocktower Capital and Orthogonal Trading. Total pool size is already over $350M.
Based on recent plan and fast growth of this industry, the committed capital will be over minimum $1b.
DeFi’s advantage over traditional debt capital markets is borrower could get more capital fast through on-chain borrowing process. It’s no need to wade through months of bureaucracy for one-off transactions to come through.
The lenders up to now are Coinshares, Abra and AsendEX.
Since I have worked with Coinshares many times before, I will be able to trust DeFi, but I will ask someone like Mortgage Advice Lincoln for details on how this loan works before I connect to it. There may be some danger in working with him, and I will be putting my money in the bank for nothing. I always check the profitability of applications I find online. I have read about syndicated loans before, but I don't know much about it. Thanks for the information. I will study this post and DeFi. That would be interesting to me, I think.
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