Finance
Maple Finance TVL More Than Doubles Leading Up to New Retail Arm – The Defiant
The DeFi protocol hit all-time high TVL and revenue in June.
Maple Finance’s total-value locked (TVL) growth is accelerating after the launch of its retail-focused product, Syrup.fi.
Maple’s TVL increased by 123% in the second quarter, hitting an all-time high of $230 million, according to Dune Analytics. The protocol’s quarterly revenue also jumped by 39%. Maple’s strong performance in June was capped off with the launch of Syrup.fi on June 25. The rest of the DeFi market increased by roughly 9% in the same time period, per DeFiLlama.
The growth spurt is indicative of the demand for institutional-grade products leveraging high yield and real world assets (RWAs) as well as the anticipation for a retail extension of Maple Finance. The current structure is also well incentivized, with Maple users earning up to 23% on digital assets, and Syrup users accruing “Drips”, which are akin to points.
Co-founder Joe Flanagan told The Defiant, “Maple’s growth is attributed to our secured lending products that provide yield from loans to the largest institutions fully backed by digital assets.”
He continued, “we are providing the best risk-adjusted yield in the space and people are starting to recognize it.”
Maple Finance is a decentralized finance (DeFi) market designed to connect accredited investors with institutional lenders and borrowers. Maple is only available to users who have performed know-your customer checks and meet regulatory standards for the product.
Maple’s resurgence comes after its TVL got crushed during the FTX fallout, when $36 million worth of loans owed to Maple were defaulted on.
Retail-Focused Syrup.fi
In addition to its institutional product, the team has recently launched a retail-focused arm, dubbed Syrup.fi. The team is gradually rolling out Syrup.fi, which has accrued more than $13 million in TVL since its launch on June 25.
Syrup offers permissionless access to Maple’s yield, which is generated from collateralized lending to institutions. The product will also return composable LP tokens in the form of syrupUSDC, which can be utilized elsewhere in DeFi.
Syrup users will be accumulating Drips through Maple’s muti-season early access phase. Drips will entitle users to an allocation of Maple’s upcoming Syrup token, which is expected to migrate with their MPL token in Q4 2024.
High-Yield Secured Pool
Maple’s recent outperformance began prior to the launch of Syrup.fi, with the launch of its High Yield Secured pool, touting a target of 15% net APY.
The protocol’s secured lending arms are over-collateralized with liquid digital assets such as BTC, USDC, and ETH. Currently, Maple’s secured pools make up $147 million of its $230 million TVL.
Maple Cash is the platform’s RWA pool that is backed by short-dated U.S. Treasury bills. Maple Cash’s TVL has doubled since March, increasing to $20 million from $11 million, however it does still sit below its all-time high TVL of $31 million from October 2023.
Syrup’s season one will end on July 31, with the MPL token migration slated for Sept. 30.
Finance
UNO restructures finance team, announces changes to campus
Editor’s note: WWNO is licensed to the University of New Orleans but is funded independently and reports on the university like any other school.
The University of New Orleans is making changes to its financial structure and campus as it prepares to transition back to the LSU System on July 1.
UNO, which officials have already started referring to as LSU New Orleans, has hired Jeanette Weiland as its interim chief administrative officer, a reconfigured role the school’s president says will strengthen its finances.
Weiland previously served as chief business officer of Tulane University’s School of Science & Engineering. She started on a contract basis in January and was hired as an employee on March 1.
In an email to staff this week, President Kathy Johnson said Weiland’s position will span more departments than before, making forecasting and budgeting easier.
“For many years, some of our financial challenges have stemmed from the way separate revenue sources have operated in parallel rather than in alignment,” Johnson said.
The university eliminated its vice president for finance and administration as part of the restructuring, Johnson said, and will hire an interim chief financial officer to work under Weiland.
Arlean Wehle had been serving in both roles, on an interim basis, after Edwin Litolff left for the University of Louisiana at Lafayette last summer. Johnson thanked Wehle for her “tireless work ethic, her steady leadership, and her unwavering commitment to our mission.”
UNO has struggled financially in recent years, which officials have attributed to low enrollment and poor management. The school currently enrolls fewer than 6,000 students, down from more than 17,000 at its peak before Hurricane Katrina.
While faculty and staff have specific concerns about the transition, according to a survey conducted by LSU, more than 60% of students, alumni and faculty support the move.
Officials have promised to revive the university by sharing system resources, eliminating some programs, expanding those it says are unique and successful — like UNO’s naval architecture and marine engineering school — and rebranding the campus as part of the LSU family.
In the same email, Johnson said UNO will lease a building to its neighbor, Benjamin Franklin High School, starting in June, and plans to close its oldest academic building at the end of the semester.
Franklin has been looking for room to expand, rather than cap its enrollment. The school plans to take over the Human Performance Center.
Johnson said the lease will strengthen the existing partnership between the two, “while generating revenue” that UNO needs. Franklin will move out of the classrooms it uses in a campus building that’s farther away, freeing those up.
The terms of the lease with Franklin are still being negotiated, Johnson said in an email to WWNO. It will likely go before the University of Louisiana System board in April, which UNO remains part of until July 1.
The Liberal Arts Building, the facility slated to close, houses the following departments: English, foreign languages, philosophy, history and elements of anthropology.
Johnson said the decision was reached based on UNO’s financial standing and a facility analysis by an outside firm.
“This is not a decision made lightly,” she said in the email. “We simply do not have the resources required to restore it to acceptable standards.”
Departments housed in both impacted buildings will be relocated to other parts of the campus.
Finance
Ethics Commission launches interim site for local campaign finance reporting

The Oklahoma Ethics Commission has launched an interim local campaign reporting portal amid growing concern that a state law change and an aborted Guardian System upgrade left the public without access to municipal, county and school board candidate finances.
Late last year, the Ethics Commission restored its legacy Guardian System for state candidate committees and lobbyists to file their financial disclosures. The commission had been attempting to upgrade to a system known as Guardian 2.0, but the switch floundered and ultimately fell apart, forcing the agency to change providers and revert to its original system.
In anticipation of Guardian 2.0, the Oklahoma Legislature passed a new law last year requiring local candidates for office to file their campaign reports with the Ethics Commission instead of city and county officials. But the legacy Guardian System to which the agency reverted does not accomodate filing information or data for candidates in county and municipal races.
Tuesday’s launch of the interim site covers some of those gaps, but data is still being uploaded to it. As of Friday, March 6, filings from only about a dozen candidates are listed for public review.
“Oklahoma voters deserve transparency at every level of government,” Ethics Commission executive director Lee Anne Bruce Boone said in a statement. “This interim portal ensures the disclosure continues without delay while full electronic integration is finalized.”
Search filings:
LocalCampaignFilings.ok.gov
The commission’s new responsibilities over local elections have come as a result of SB 890, which took effect Nov. 1. It requires candidates for county and municipal offices to file their campaign finance reports and personal financial information at the state level. In years past, those filings were typically handled by county election boards or city clerk offices.
At a meeting in February, Bruce Boone said it could take up to 15 weeks for Civix, the software company that developed the original Guardian System, to update the current platform.
That has left some local candidates with questions about how to file reports and how the public can see them. Some candidates have been pressed to post their own reports on social media ahead of the April 7 election, while others interested in the information have had to make individual requests by email or phone to the Ethics Commission, which has then requested reports from candidates. More than 3,000 municipal and county filings are expected to be uploaded on the Guardian System eventually.
Aaron Wilder, who manages local campaigns in Oklahoma, said the interim system is a step in the right direction.
“I’m glad that they have provided some kind of option,” Wilder said. “I really thought that the kind of excuse that they were giving — that there was nothing they could do in the interim because of their staff capacity and technology needs — was lacking, and so that was true, because they were able to quickly set this up in the last month.”
Questions remain about filings
According to Bruce Boone’s press release, local candidates can submit finance reports through the interim portal while full system integration remains ongoing. Still, Wilder has concerns.
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‘This is a problem’: Local election campaign finance reports in limbo by Andrea Hancock
“What is missing right now is just clear guidance and communication from the Ethics Commission on what local campaigns should be doing at the moment,” he said. “The only reason I would know that this is now available and something that local campaigns can use, is because I’m subscribed to the Ethics Commission email (list). So I got a notice from their email system that, ‘Hey, this is available.’ And so then going back to that, I mean, I have not seen any kind of effort from them to really communicate about this beyond just pushing out to their email list. And nothing here is required, as far as my reading of it. It’s kind of like, ‘Comply if you would like to.’”
Oklahoma County District 2 Commissioner Brian Maughan is not up for reelection this year, but he is still required to file regular Ethics Commission fundraising reports. He said that who donates to candidates and how much money they raise is of interest to the public. Indeed, some citizens expressed concern leading up to and after February’s municipal elections that they were unable to see candidates’ full financial disclosures.
“It’s not often that we get major press coverage for these local races,” Maughan said. “That’s why I think it’s been important for the citizens to be able to go down there and retrieve our records, because a lot of the time, if the public is going to find out, it’s usually from their own effort to go and review the records. Over the years, I’ve been really surprised at the number of people who go out and do that. Because it’s important to them to know who’s supporting not only the incumbents, but the challengers.”
Maughan said he was told by the Ethics Commission to retain data on fundraising and give it to citizens who ask him for it.
“What they told me was that, for the time being, you file it with yourself, but we have to produce it upon any citizen requests for it,” he said. “I don’t keep those records at the courthouse, but theoretically, anyone should be able to make it available within one business day. It’s relatively similar to how it was when you would show up at the (county) election board or Ethics Commission and ask for it. You would typically get same-day service. ‘We should still be able to provide that to citizens,’ is the instruction that I received. And we were like, ‘Aren’t you sure that we [shouldn’t] let somebody else just have them on file?’ And they said, ‘No, not for now.’ They said they will get back with us and we will have time to upload it to the new system, but for now, if somebody asks you, you’re still supposed to provide it.”
Finance
Arsenal Braced for Shock Sale to Combat Looming Financial Issues—Report
Arsenal will be forced into selling at least one first-team player at the end of the season as last summer’s $359 million spend catches up with them, a report has revealed.
Arsenal parted ways with vast sums for an array of transfer targets before the campaign commenced, with Eberechi Eze ($90.2 million) and Viktor Gyökeres ($85.1 million) among the expensive additions.
An enormous outlay has facilitated an incredible campaign to date for Mikel Arteta’s side, who are currently perched first in the Premier League and can still secure an unprecedented quadruple of trophies.
However, according to The Telegraph, Arsenal will need to raise funds through player sales this summer to ensure they comply with the Premier League and UEFA’s financial regulations.
Internal discussions are already taking place over which first-teamer(s) could yield the greatest transfer fee and profit to help Arsenal balance the books. A host of names are potentially on the chopping block.
Few Safe From Arsenal Departure
Certain individuals will undoubtedly be off limits when sales are sanctioned at the end of the season—Bukayo Saka, Declan Rice and William Saliba to name a few—but Arsenal might have to be ruthless with their outgoings.
According to the report, even skipper Martin Ødegaard is not immune to being pushed out the exit door, the Norwegian’s low value on Arsenal’s balance sheet paving the way for a mammoth profit if he’s sold. However, he’s still considered a hugely important figure at the club.
Gabriel Martinelli is another who is under consideration given his colossal transfer value, while Gabriel Jesus, Leandro Trossard, Kai Havertz and Ben White are other potential candidates for the boot as their contracts tick down.
Arsenal’s current preference is likely to be offloading one of their two precocious academy graduates: Ethan Nwaneri and Myles Lewis-Skelly. Neither are eager to leave the Emirates Stadium but their sales would count as pure profit given they have come through the club’s youth setup. Past sales of Emile Smith Rowe and Eddie Nketiah show Arsenal are not averse to selling homegrown talents.
The Gunners are expected to be protagonists in the transfer market again this summer as Arteta looks to build a dynasty, while the arrival of Piero Hincapié on a permanent deal worth $60 million adds to their desire to cash in on some of their stars.
Who Should Arsenal Offload This Summer?
Contracts will come under the microscope when Arsenal consider sales. There are currently four players whose deals expire in the summer of 2027—Martinelli, Trossard, Jesus and Christian Nørgaard.
Martinelli and Nørgaard both have clauses allowing Arsenal to trigger a one-year extension and while the latter holds little transfer value, Martinelli would certainly command a hefty fee if he were to depart. The Brazilian has struggled to take the step to superstar status but is still just 24 years old.
Arsenal could therefore turn to Trossard or Jesus. The former will be 32 years old and the latter 30 by the time their deals run out, meaning extensions are unlikely. Cashing in this summer might be the wise move, although neither are likely to be a truly blockbuster sale.
Havertz’s injury issues and the fact his deal expires in 2028 make him a possibility, while White is certainly a luxury option in a well-stocked Arsenal backline.
Fortunately following years of cultivation, Arsenal will be able to cover for sales this summer given their immense squad depth.
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