The SYRUP token is set to unite the Maple ecosystem through community engagement, governance, and rewards.
Maple Finance, the decentralised platform for institutional lending, launched its SYRUP token, achieving a milestone in the DeFi protocol’s mission to modernise global credit markets and empower its ecosystem.
The SYRUP token will augment Maple’s ambitious vision of transforming institutional lending
markets, empowering the community to share in the ecosystem’s growth. Through staking and governance, SYRUP holders play a key role in governance and aligning incentives on the platform.
“Since day one, Maple’s unique institutional lending model has clearly differentiated us in the
market, enabling us to consistently deliver 5-10% higher yields than peers like Aave and Maker
over the past year,” said Sidney Powell, Co-Founder and CEO, Maple Finance. “We launched
SYRUP to bring Maple’s institutional yields to new segments of the DeFi market and expand our
growing community.”
The protocol previously saw its total value locked (TVL) exceed US$550 million alongside an 850% rise in annual revenues. Users can convert existing MPL tokens into staked SYRUP at a 1 MPL to 100 SYRUP ratio.
“We have played a pivotal role reestablishing the crypto lending space in the wake of the 2022 credit
crisis,” said Joe Flanagan, Co-Founder and Executive Chairman, Maple Finance. “The market has
clearly gravitated towards our model over the past year as evidenced by our robust organic
growth. By 2030, our goal is to generate more than $100 billion in annual loan volume with
SYRUP serving as the cornerstone of on-chain credit markets. Today’s launch announcement is
an important step toward achieving that vision and bringing our growing community on the
journey with us.”
The SYRUP token and staking is available globally, and initial stakers can expect to receive SYRUP rewards yielding more than 10% annually. Maple will release additional details about SYRUP’s tokenomics, governance mechanisms, and staking rewards soon.
