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Maple Finance Unveils Major Overhaul, Stops Lending on Solana

Blockchain-based lending platform Maple Finance unveiled Wednesday a major protocol overhaul in an attempt to improve on shortcomings highlighted by a spate of recent loan defaults.

Along with the upgrade, Maple made a "strategic decision" to double down on using the Ethereum blockchain and discontinue lending on the Solana blockchain, according to a blog post.

"By making improvements to the Maple Ethereum App as well as Ethereum’s move to Proof of Stake, we are confident that frictions on Ethereum will no longer be prohibitive to current and prospective users of the Maple protocol," Maple said.

Maple introduced lending on the Solana blockchain in April with ambitious plans to grow credit pools to $300 million by the end of 2022.

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