Today in DeFi - Maple Cuts Orthogonal, APE Staking Live, Lending on BnB Chain, and More...

Dec 06, 2022

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Maple Cuts Orthogonal

Orthogonal Trading misrepresented its financial position to M11 Credit, and we sever all ties with the firm. As a technology provider, not a lender, the Maple protocol is open and working in the best interest of all stakeholders.

maple.financeMaple severs all ties with Orthogonal Trading | MapleAs a result of material misrepresentations regarding their financial position, Maple has severed all ties with the parent entity Orthogonal Trading. Orthogonal Trading had two business arms previously associated with Maple, credit and trading, which operated separately in the roles of Pool Delegate…

Orthogonal Trading, a crypto firm that has funds stuck on FTX, and is also a significant borrower on lending protocol Maple Finance, has defaulted on eight loans totalling $36 million on Maple.
Creditor M11 Credit issued a default notice to Orthogonal for its loans, while Maple severed all ties with Orthogonal for misrepresenting its financial position.

APE Staking Live

Horizen Labs @HorizenLabs

Ape Staking Update: The day is finally here, $APE holders. ApeStake.io...is now LIVE!🎉 Pre-commitment period starts now. 1) Go to ApeStake.io 2) Connect your wallet 3) Stake your position On December 12th, rewards start accruing. Get ready!

apestake.ioStake Apecoin on Apestake.ioWelcome to ApeStake.io, the official site for staking your ApeCoin and Bored Ape NFTs. Join the Ape Community by earning rewards across four separate pools.

APE staking is now open for deposits, and on the 12th rewards will start accruing.

Waves Power Protocol

The Block @TheBlock__

Waves to launch DAO governance framework with token airdrop next year theblock.co/post/192065/wa…

Waves team announces Power Protocol, a new DAO governance architecture that will launch in January 2023 and will come with an airdrop of the protocol token POWER.

Aave Acquires Sonar

Aave @AaveAave

GM frens - Aave Companies has Acquired @Sonar "We are thrilled the Sonar team is joining our Lens team to accelerate our social media and mobile app strategy” -@StaniKulechov (Stani.lens) Read more👇

Lens Protocol 🌿 @LensProtocol

The Aave Fam is growing! It’s no secret that our team has been innovating in social media, with Lens Protocol to bring power back to users, right where it belongs. To continue our mission, we’re thrilled to announce the acquisition of @Sonar, a mobile-first metaverse. https://t.co/qlRTUFq1SO

Aave has acquired Sonar, a mobile-focused metaverse project. Sonar will be integrated with Lens to improve the social experience with NFT trading & collecting.