We believe in a future
where centralized and
decentralized financial
systems will coexist

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CelsiusX

<div data-id="2214e468" type="widget" type="theme-post-content.default"><div>Celsius, a centralized crypto lending platform, has become the first CeFi lender to launch a pool on Maple Finance, a decentralized protocol facilitating undercollateralized cryptocurrency loans to institutions, the venture said today.The Maple pool is also the first endeavor of CelsiusX, the newly launched DeFi arm of Celsius. Celsius told The Defiant that the milestone marks the start of its journey towards &ldquo;creating a future where centralized and decentralized financial systems will coexist.&rdquo;&nbsp;Sidney Powell, the co-founder and CEO of Maple Finance, said Maple is planning on partnering with more CeFi lenders in the future.<h4>Undercollateralized Lending</h4>&ldquo;We are a technology platform for credit experts to run lending businesses and are in constant consultation with regulated and listed firms,&rdquo; he said. &ldquo;Our infrastructure is built to scale and support institutions across CeFi, DeFi, and TradFi.&rdquo;Celsius is betting that the <a href="https://newsletter.thedefiant.io/p/the-path-towards-an-under-collateralized" target="_blank" rel="noreferrer noopener">undercollateralized crypto lending</a> market will grow significantly in the current years. The sector currently represents less than 1% of the outstanding debt market. Maple has facilitated more than $750M worth of loans to date.On Feb. 24, Celsius launched a $30M pool of Wrapped Ether, comprising the first non-USDC pool on Maple Finance. Celsius hopes to finance &ldquo;fast-growing crypto institutions via the pool.&rdquo;&ldquo;We are excited to use Maple&rsquo;s DeFi rails to provide efficient access to capital for blue-chip crypto institutions,&rdquo; said Alex Mashinsky, the CEO of Celsius. &ldquo;Celsius will draw on its deep experience in underwriting and look forward to welcoming new borrowers this year and beyond.&rdquo; Celsius will issue loans based on the &ldquo;profitability, balance sheet strength, and credit history&rdquo; of prospective borrowers. Mashinsky told The Defiant that Wintermute, a leading algorithmic crypto market maker, Framework Ventures, a digital asset venture capital firm, and Amber, a cryptocurrency trading firm, have already been approved as initial borrowers by Celsius.The firm will join BlockTower, Orthogonal Trading, and Maven 11 as a pool delegate on Maple Finance. Celsius also plans to explore launching additional pools that may offer loans using other crypto assets in the future.Maple Finance allows firms to launch undercollateralized lending businesses built on its DeFi rails. The protocol&rsquo;s smart contracts facilitate loan origination, management, and real-time performance reporting among other tools.<h4>Immutable</h4>Powell told The Defiant that Maple has originated more than $768M worth of loans since launching in May 2021, and currently boasts a TVL of $654M.He emphasized that traditional centralized asset managers are able to maintain regulatory compliance within the DeFi space, only &ldquo;faster and more efficiently because information is on-chain, and immutable.&rdquo;&nbsp;Maple also hopes to emerge as &ldquo;the dominant institutional capital network in crypto&rdquo; by adopting a multi-chain strategy in 2022. The multi-chain focus comes after Maple <a href="https://finance.yahoo.com/news/maple-finance-buys-avari-rapid-140151435.html" target="_blank" rel="noreferrer noopener">acquired</a> Avari, a Solana-based undercollateralized lending protocol, in January.&ldquo;The acquisition of the Avari protocol means we will expand to Solana in Q1 2022, and begin to welcome high-quality players from the Solana ecosystem such as DAOs, protocols, and institutional investors,&rdquo; Powell said.</div></div>

The Defiant

CeFi Meets DeFi as Celsius Joins Forces with Maple Finance on Crypto Lending Protocol

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				Largest decentralized exchange on Polygon, QuickSwap recently announced a cooperation With CelsiusX. The DeFi arm of Celsius, the decentralized financial services network founded by Alex Mashinsky, the partners are set to bring more liquidity and create yield opportunities for users on the sector.
 Related Reading | Celsius CEO: &ldquo;Elon Is A Tourist In Crypto&rdquo;
 The partnership also aids to onboard more users, from retail investors to institutions, into DeFi. In order to achieve this objective, CelsiuX will offer 2 popular cryptocurrencies, Cardano (ADA) and Dogecoin (DOGE), with a low presence on Polygon and will provide more liquidity for Ethereum (ETH).
 These cryptocurrencies will be available on QuickSwap as synthetic versions called cxADA, cxDOGE, cxETH. Per an official post, these tokens have low to non-existent liquidity for traders on Polygon. The partnership will seek to meet such a demand.
 Dogecoin (DOGE) has seen a massive rally from its lows below $0.010 in 2021 to an all-time high above $0.70. The cryptocurrency has been promoted by heavily influential personalities in business, such as Elon Musk and Mark Cuban, and it&rsquo;s a symbol of the &ldquo;GameStop Movement&rdquo;.
 In the meantime, Cardano rose on the back of its large community and their bet that the network will become an Ethereum killer project one its DeFi ecosystem matures. Cardano introduced DeFi capabilities back in 2021 after successfully completing tree Hard Fork Combinator events.
 Both ADA and DOGE have some of the most active and engaging communities in the crypto space. The collaboration between QuickSwap and CelsiuX will give these users a new venue to trade their favorite tokens.
 The team behind QuickSwap exclusively told NewsBTC the following on their collaboration with CelsiusX:
 CelsiusX is bringing 3 assets (cxDOGE, cxETH, and cxADA) that currently have little to no utility or use on Polygon over and each of their respective communities with them. The team will be seeding the liquidity for 3 trading pairs, $10 million in liquidity for each pair. In addition to added liquidity, we expect to see a major increase in volume.
 QuickSwap And CelsiusX, A Partnership For The Future Of DeFi
 The collaboration will be comprised of three core elements: liquidity, incentives, and utility. The first will facilitate trading for institutions, users, and other market participants following QuickSwap&rsquo;s vision of providing liquidity for &ldquo;any token&rdquo;.
 On the second item, the DEX and CelsiusX will offer users more incentives to trade the synthetic versions of these tokens. Liquidity providers and traders will receive rewards by operating on cxDOGE and cxADA. Finally, the partners will provide DOGE and ADA holders will more utility opportunities on Polygon by adding it to a larger DeFi and multi-chain ecosystem.
 On their official announcement, CelsiusX added the following on their cooperation with QuickSwap, which they called &ldquo;just the tip of the iceberg&rdquo; in their attempts to merge CeFi and DeFi:
 As token interoperability increases and additional non-ERC20 (non-Ethereum compatible) crypto tokens look to migrate over to the Polygon ecosystem, CelsiusX + Polygon can repeat the playbook to create liquidity and use cases for any token.
 As of press time, the DEX&rsquo;s native token QUICK trades at $190 with a 5.1% profit in 24 hours and 8.6% profit in one week. The token has seen a positive impact from their partnership with CelsiusX and could continue to score more profits on the back of improvements to its interface and reward mechanism.
 QUICK with minor gains on the daily chart. Source: QUICKUSDT Tradingview
 Data from Material Indicators shows that there are some significant bids set below QUICK&rsquo;s current levels. These could operate as critical support in case of further downside with $185 as it most important level.
 Related Reading | Celsius Crosses New Company-High In BTC Assets
 To the upside, there is low resistance until $205 which suggest bulls could have a shot of reclaiming previous highs.
 QUICK Price (blue line on the chart) and support levels (bid orders below price). Source: Material Indicators. Real time live cryptocurrency news. Get the best news flash on Bitcoin, altcoins daily. Use <a href="https://www.binance.cc/en/register?ref=MY7U79AS">Binance.com</a> as the best , most reliable and biggest cryptocurrency exchange on the market.

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CelsiusX ($)

Building Bridges. Cross-chain liquidity. CeFi x #DeFi.

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