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Maple Finance acquires Avari for rapid launch on Solana

Maple Finance has acquired Avari, an undercollateralised lending protocol, which will allow Maple to launch on the Solana blockchain quickly, becoming the first corporate credit marketplace to do so.

The acquihire of Avari and its team, will increase Maple’s total addressable market (TAM) and grow the potential total value locked (TVL) of the protocol, making Maple the largest undercollateralised lending product by TVL in decentralised finance (DeFi) and building the strongest engineering team on Solana. 

Undercollateralized lending in crypto is still comparatively small, representing less than 1 per cent of the outstanding debt market. This indicates there is a lot of room to grow and expand across DeFi. 

The acquisition is set to close in Q1 2022 and will be paid for using a combination of cash and tokens.

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