Maple Finance · interactive mechanism simulation

LPs deposit into a lending pool run by a Pool Delegate, who stakes Pool Cover as first-loss capital and lends to institutional borrowers → interest streams back to LPs and the delegate. Trigger an Orthogonal-style default to see how thin cover gets wiped before LP principal is hit.
LPs 0 USDC deposited Pool Delegate 0 USDC cover staked Lending Pool 0 USDC deployed Trading firm institutional borrower
TVL
0 USDC
Loans outstanding
0 USDC
Pool cover remaining
0 USDC
Cumulative defaults
0 USDC
Parameters — edit me
5%
0.6/s
10%
4 borrowers
Controls

Illustrative simulation. Models the researched Maple Finance Era-1 mechanism: LPs fund a pool a Pool Delegate underwrites and lends to institutional borrowers, backed by thin first-loss Pool Cover. The default trigger illustrates the documented Orthogonal Trading collapse ($36M default against pool cover that recovered only a few million), where cover was wiped before LP principal absorbed the rest. Flows and timing are randomized for visualization, not live onchain data. Part of The Onchain Experiment Atlas.