PANews reported on February 8 that according to Cryptoslate, the decentralized credit protocol Maple reported that during the price crash on February 2, none of the platform users' positions were liquidated, so no bad debts were generated. The report also pointed out that users deposited $10 million during this period to enhance margin, thus avoiding liquidation events. On the same day, as the price of Ethereum briefly fell to a low of around $2,000, major cryptocurrencies generally fell by 10% to 30%, and more than $10 billion in positions were liquidated.

The report highlights that Maple’s “Blue Chip” and “High Yield Secured Loans” products remained overcollateralized during this volatility, thanks to margin calls issued before collateral levels reached critical mass. The High Yield Secured Pool attracted $2 million in inflows during the massive liquidation on February 2. The Syrup pool combines these two strategies to increase yields, but also faces more risk. The pool issued margin calls on 35% of loans, resulting in $5 million in new deposits. Borrowers added $7.4 million in collateral and repaid $7.4 million in loans, strengthening the stability of Maple’s loan book.

As of February 6, the average collateralization ratio across pools was 165%. The report also noted that despite the withdrawal of yield options in DeFi protocols, its vaults still achieved double-digit annualized returns.