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.

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Lending

Maple Finance

# Maple Finance Supply-side fees Methodology

## 1. Overview

The share of fees that goes to the service providers is measured by supply-side fees. Economic incentives allocated to capital providers and pool managers who facilitate lending on Maple Finance are reflected by this metric. Interest earnings and service fees are captured across both Maple Finance V1 and V2 lending pools to provide a comprehensive view of supply-side compensation.

## 2. Data sources

- **Blockchain events**: `ServiceFeesPaid` events from `FeeManager` contracts, `ClaimedFundsDistributed` events from `LoanManager` contracts, `FundsDistributed` events from `FTLoanManager` contracts, and `Claim` events from `Pool` contracts, covering Ethereum
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: V2 Fixed Term Loan fee extraction

- **Purpose**: Capture supply-side fees from V2 Fixed Term Loans (FTL).
- **Logic**: `ServiceFeesPaid` events from `FeeManager` contracts and `FundsDistributed` events from `FTLoanManager` contracts are parsed. For service fees, the delegate service fee and partial refinance delegate service fee are summed. For fund distributions, the net interest is extracted. These components are aggregated to represent the total supply-side fees for fixed term loans.
- **Key fields**: `delegate_service_fee`, `partial_refinance_delegate_service_fee`, `net_interest`

### Component B: V2 Open Term Loan fee extraction

- **Purpose**: Capture supply-side fees from V2 Open Term Loans (OTL).
- **Logic**: `ClaimedFundsDistributed` events from `LoanManager` contracts are parsed. The base supply-side fee is calculated by subtracting the delegate management fee and platform management fee from the gross interest. For pools identified as third-party delegate pools via allowlist metadata, the delegate management fee and delegate service fee are added back to the supply-side fee total.
- **Key fields**: `gross_interest`, `delegate_management_fee`, `platform_management_fee`, `delegate_service_fee`

### Component C: V1 Pool Claim fee extraction

- **Purpose**: Capture supply-side fees from V1 lending pools.
- **Logic**: `Claim` events from `Pool` contracts are parsed. The supply-side fee is calculated as the sum of the net interest, the stake locker portion, and the pool delegate portion. The underlying asset is identified as WETH for specific legacy pools and USDC for all other V1 pools.
- **Key fields**: `net_interest`, `stakeLockerPortion`, `poolDelegatePortion`

### Component D: Normalization and USD conversion

- **Purpose**: Normalize fee amounts and convert them to USD.
- **Logic**: Underlying asset addresses are mapped to each loan using loan account metadata. Raw fee amounts are normalized by decimal precision using asset metadata. The normalized values are then multiplied by end-of-day asset prices to determine the USD value. All values are aggregated daily using UTC day boundaries.
- **Key fields**: `underlying_token_address`, `price_usd`

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

Portion of fees distributed to service providers or supply-side participants.

Maple FinanceSYRUP

Supply-side fees

Supply-side fees

Competitive landscape

Chain breakdown