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.

governance

github

twitter

discord

etherscan

website

Lending

Maple Finance

# Maple Finance Treasury (net) Methodology

## 1. Overview

Treasury (net) measures the total value of Maple Finance's onchain treasury, excluding its own native assets. Financial runway and capital reserves held by the project in stablecoins or other non-native assets are represented by this metric, indicating the resources available to fund operations or invest in growth. Specific treasury wallet addresses are monitored on Ethereum to calculate these balances.

## 2. Data sources

- **Blockchain events**: ERC-20 token transfers and native asset transfers associated with treasury addresses `0xa9466eabd096449d650d5aeb0dd3da6f52fd0b19` and `0xd6d4bcde6c816f17889f1dd3000af0261b03a196` on Ethereum
- **External data**: End-of-day price feeds for assets held in the treasury

## 3. Step-by-step calculation

### Component A: Balance change tracking

- **Purpose**: Track daily net flows of native and ERC-20 assets for designated treasury addresses
- **Logic**: Daily net flows are extracted from native asset transfers and ERC-20 token transfers for the specified treasury addresses. Native protocol assets (`0x33349b282065b0284d756f0577fb39c158f935e6` and `0x643c4e15d7d62ad0abec4a9bd4b001aa3ef52d66`) are explicitly excluded from the tracking to isolate non-native treasury holdings.
- **Key fields**: `timestamp`, `account_address`, `token_address`, `value`

### Component B: Cumulative balance calculation

- **Purpose**: Calculate the continuous daily balance of each asset held in the treasury
- **Logic**: Daily net flows are aggregated cumulatively over time to determine the running balance of each asset for each treasury address. For days without transfer activity, the last known balance is carried forward to ensure continuous daily coverage.
- **Key fields**: `timestamp`, `account_address`, `token_address`, `balance`

### Component C: USD conversion and final aggregation

- **Purpose**: Convert asset balances to USD and aggregate the total treasury value
- **Logic**: Cumulative daily balances are normalized by decimal precision and multiplied by end-of-day asset prices. Only balances greater than zero are converted. The resulting USD values are aggregated across all tracked treasury addresses and assets to produce the final daily Treasury (net) metric, with missing days being filled with zeros.
- **Key fields**: `timestamp`, `amount`, `treasury_net`

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

Total value of a project's treasury excluding its native token.

Maple FinanceSYRUP

Treasury (net)

Treasury (net)

Competitive landscape

Chain breakdown