Last updated 22nd December 2023 By Yannis Heyken

We have been investors in Maple for over 18 months and have worked closely with the team since the beginning.

In this article, we would like to share some insights from our analysis and parts of our financial model, which we use to track the protocol. This piece reflects our current viewpoint which we plan to refine and update on a regular basis. We are always open for feedback and to discussing the assumptions that underlie the model.

Let’s get into it.

• Introduction to Maple What is Maple and which problem does it solve?
• Market How large is the market and who are competitors?
• Business model How does Maple generate revenues and what are key drivers?
• Traction What has been the traction on Maple so far?
• Financial model What is our approach to forecasting the individual business lines?
• Valuation What is our take on potential future valuations of Maple?
• Conclusion