Coin Metrics is committed to building the crypto economy on a foundation of truth, providing authentic and accurate data with the highest standards of clarity and precision. With this mission in mind, we are proud to share our July edition of Movers and Shakers, the monthly resource aiming to bring more transparency and credibility to the rapidly evolving crypto space.
As new assets reach a certain degree of accessibility to investors, specifically as they achieve alignment with our Market Selection Framework and the Trusted Volume Framework, Coin Metrics uses its crypto expertise to describe the assets’ context of use. The following assets are expected to reach alignment this month:
Maple Finance (SYRUP) is a decentralized lending platform catering to institutional borrowers. Maple Finance connects borrowers to capital through lending pools run by accredited pool delegates. These delegates manage, attract capital, and commit loans to the lending pool. Any DeFi user can become a liquidity provider and deposit capital to pools to earn yield. Primarily focused on short-duration, fixed rate lending, pools have their own approved assets and underwriting to reduce liquidation risks. Institutions borrow from pools after completing KYC/AML checks, credit checks, and term agreement requirements to protect lenders and delegates. SYRUP tokens can be used to vote on governance proposals and staked to earn protocol rewards.
Pudgy Penguins (PENGU) is an NFT ecosystem project whose NFTs were minted in 2021 building a community and bridging NFT-technology with consumer brands. The original founders were unable to deliver expectations of a children’s book and metaverse associated with Pudgy Penguins. Thus, in April 2022, Luca Netz acquired the Pudgy Penguin NFT collection with plans to follow through on increasing real-world influence and brand recognition. Through retailers including Walmart and Target, Pudgy Penguins sells penguin plushies to increase brand awareness. PENGU tokens represent the memetic culture and strong community built across NFT ownership. PENGU can be acquired on various exchanges and deposited in liquidity pools to earn trading fees.
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