# Maple Institutional Active loans Methodology

## 1. Overview

Active loans measures the total outstanding principal of active, funded loans within Maple Institutional. The portion of user deposits that have been lent out to institutional borrowers and are actively accruing interest is tracked. This metric is utilized as a key indicator of the protocol's capacity to generate interest revenue, as only active loans generate yield for depositors. Non-real loans, such as internal capital allocations, strategy deployments, and AMM positions, are excluded to ensure an accurate representation of true institutional credit demand.

## 2. Data sources

- **Blockchain events**: `LoanFunded` events from `Pool` contracts, `ClaimedFundsDistributed` events from `LoanManager` contracts, and `FundsDistributed` events from `FTLoanManager` contracts, alongside daily on-chain state reads of loan principals and loan borrower metadata, covering Ethereum

## 3. Step-by-step calculation

### Component A: Loan principal and metadata extraction

- **Purpose**: Extract daily outstanding loan principals and associate them with borrower and lender metadata.
- **Logic**: Daily on-chain state reads of loan principals are parsed to extract the raw principal amounts for each active loan contract. Loan borrower metadata is retrieved to identify the borrower and lender addresses associated with each loan. Only loans with a valid funded date or those identified as drawn are included.
- **Key fields**: `principal`, `borrower`, `lender`, `date_funded`

### Component B: Drawn loan verification

- **Purpose**: Verify that loans have been actively drawn on-chain.
- **Logic**: Active loans are verified by checking for historical funding events. For V1 loans, `LoanFunded` events from `Pool` contracts are parsed. For V2 loans, `ClaimedFundsDistributed` events from `LoanManager` contracts and `FundsDistributed` events from `FTLoanManager` contracts are parsed. Loans without any record of being drawn are excluded from the active loans calculation.
- **Key fields**: `loan` address

### Component C: Strategy and internal allocation filtering

- **Purpose**: Exclude non-real loans and internal capital allocations.
- **Logic**: Specific borrower addresses associated with strategy deployments, DeFi allocations, AMM positions, and intercompany transfers are denylisted. Any loan where the borrower address matches one of these internal allocation addresses is filtered out to ensure only genuine institutional loans are measured.
- **Key fields**: `borrower_address`

### Component D: Product mapping and normalization

- **Purpose**: Map active loans to Maple Institutional and normalize the principal values.
- **Logic**: Filtered loans are mapped to Maple Institutional by matching the lender address (representing the `LoanManager` contract) against a predefined list of Maple Institutional contract addresses. Raw principal amounts are normalized by decimal precision, applying 18 decimals for WETH assets and 6 decimals for all other assets (such as USDC and USDT), to calculate the final active loans value.
- **Key fields**: `lender_address`, `token_address`, `principal_raw`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of loans currently outstanding to borrowers.

Active loans

Lending

Pool delegates create a pool and attract funding, from which they receive a portion of the establishment fee and the interest accrued. Liquidity providers add liquidity to the pool and receive a portion of the interest (supply-side fees).

Maple is a non-custodial lending protocol built on Ethereum offering undercollateralized loans for institutional borrowers. Maple was founded by Sid Powell and Joe Flanagan and launched in 2021.

MPL token holders govern and own the protocol. They currently take a cut of the establishment fee (revenue). Maple’s investors include Framework Ventures, One Block Capital, Stani Kulechov etc.

Maple Institutional

Active loans

Active loans

Chain breakdown