Maple Finance, a blockchain capital marketplace, now provides non-US accredited investors access to one-month US Treasury yields.
Here are some major developments of the crypto world in the past few days.
Maple Finance, a blockchain capital marketplace, now provides non-US accredited investors access to one-month US Treasury yields.
The on-chain management protocol has recently said that it launched a US Treasury pool for accredited investors and businesses outside the US.
In response to institutional Web3 investors’ need for direct access to US Treasury bills, Maple Finance has created its new cash management pool, it revealed on April 19.
The offering is not open to people or organisations in the US. The pool will distribute yield on reverse repurchase agreements and one-month US Treasury notes to lenders, with cryptocurrency hedge fund Room40 Capital acting as the only borrower through an SPV.
Maple developers wrote: “Whilst there are a handful of ‘risk-free rate’ offerings on-chain, they do not provide the peace of mind necessary to attract hard earned treasury funds. Counterparty risk is either too high, assets too illiquid, too complicated with ETFs, or rates between 1-2% too low for the level of smart contract risk.”
Coinbase’s Base Network Integrates OpenZeppelin Security
Contract upgrades, admin changes and protocol tweaks can now be made using standard APIs previously unavailable on Base.
Web3 app developers on Base may now automate security duties thanks to the integration of the OpenZeppelin Defender smart contract security technology with Coinbase’s Base network.
OpenZeppelin, a blockchain cybersecurity company, announced on April 19 that Base app developers can now use the Defender software to build multi-signature admin contracts and timelocks, use Relayers to store keys and sign transactions, and build automated “sentinels” to watch the blockchain and respond to events.
According to the program’s documentation, these capabilities can be used for common yet delicate administrative operations, including contract upgrades, adjusting numerical parameters, or suspending a contract in the event of an emergency. The Defender app was previously accessible on Ethereum and most other networks, but because it wasn't integrated with Base, developers couldn't use it until now on the brand-new testnet.
Bitcoin Core Developer Leaves Project
Dhruvkaran Mehta, a major contributor to Bitcoin Core, which is an main open-source programme that connects the world’s largest blockchain, says he is leaving the project to concentrate on a new Bitcoin-related startup idea. Bitcoin Core depends on donations, stipends, and the goodwill of its contributors.
Mehta was, therefore, technically a paid volunteer supported by donations from Gemini, the cryptocurrency exchange run by the Winklevoss twins, Spiral, a division of Jack Dorsey's Block that focuses on sponsoring Bitcoin development, and The Human Rights Foundation.