How to become a Pool Delegate

Create a Profile

The profile will cover the Pool Delegate's background, strategy for the Liquidity Pool, target yield and Borrower type. The profile will include information on any existing Liquidity Pools which the Pool Delegate manages. The Delegate can choose to write this themselves or provide materials to the Maple team to draft for them.

The Pool Delegate has the option to KYC themselves to generate more trust from Liquidity Providers to grow their Liquidity Pool faster.

Create a Liquidity Pool

Next the Pool Delegate will establish their Liquidity Pool on-chain. First the Delegate will select one cryptocurrency which the Pool can accept and lend in (note: the Pool can accept any ERC20 as collateral). The Delegate then sets the Ongoing Fee they will charge for management and then confirm creation.

When creating a Liquidity Pool, a Pool Delegate must stake Maple Tokens to the Liquidity Pool, thus providing first-loss capital to the Pool, to align their interests with those of Liquidity Providers. This is done with the following steps:

  1. Deposit Maple Tokens and stablecoin to the Maple's Insurance Pool and mint Balancer Pool Tokens (BPTs)

  2. Stake the BPTs to the new Liquidity Pool