About this explorer

Maple runs an institutional lending desk. Depositors supply USDC or USDT, and Maple lends it to trading firms and funds against collateral held by custodians, firms such as BitGo and Anchorage that keep the collateral in safekeeping and release it only on the loan's terms. A loan is either fixed-term, running to a maturity date, or open-term, with no maturity date and a call Maple can make with notice; the pools page shows the split, and both pools here lend on open terms today. The borrowers' interest is where a lender's yield comes from. A depositor holds syrupUSDC or syrupUSDT, a share token whose exit rate, the amount one share pays out on withdrawal, rises as that interest accrues.

Each position listed is one wallet's stake in a pool: what its shares are worth to exit today, and where it stands in the withdrawal queue. Exits are queued rather than instant because most of the pool is out on loan — the band at the top of the listing shows how much is liquid right now against how much is deployed.

One caveat carries through every figure. The chain records what Maple's contracts booked: principal lent, the rate posted, and any loan the pool delegate (the manager that runs the pool's lending) has marked as impaired. It does not prove that the custodied collateral behind those loans exists. That last step rests on Maple's custodians, off-chain. Amounts stay in the pool's asset; a stablecoin is never counted as a dollar. Or see the pools and what lenders can reach.