Syrup has moved to Maple. Go to app.maple.finance/earn to see your position

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A new SyrupUSDC campaign is live. Deposit into Syrup and win up to $300K.
To mark $1B in AUM, Maple is launching a $500K USDC rewards event. Earn yield, win up to $300K. Deposit into Syrup before May 31st to enter.
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Syrup x Base 🧡💙 We're excited to share that @syrupfi and @maplefinance are expanding to @base, powered by @LayerZero_Core and @AerodromeFi. ⚡️ Together, we are building the onchain economy of Base, and expanding institutional lending. More exciting updates coming soon. 👀
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$SYRUP is live on @base 💙🧡 Base users can now access $SYRUP via @LayerZero_Core's OFT and be part of Maple's growth. Launching with an @AerodromeFi pool — holders can earn trading fees & $AERO emissions. Bridge $SYRUP with @StargateFinance. Steps to participate below ⬇️
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Syrup gives access to the most consistent high yield in DeFi. 🧡 Once opaque and exclusive, institutional yield is now transparent and available for all. ⚡️ Simply connect your wallet, deposit funds, and start earning on syrup.fi. 🥞 Syrup in 45 seconds ⬇️📽️
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⚡ Announcing Syrup — a new protocol unlocking Institutional Yield: 🟠 Real yield through secured lending 🟠 Seamless DeFi access 🟠 Powered by @maplefinance 🟠 Earn yield + Drips rewards ➡️ Get early access: syrup.fi
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SYRUP Launch & Conversion Guide - what you need to know ⬇️ syrup.gitbook.io/syrup/syrup…
With $SYRUP launch this Wednesday, here are a few things you need to know ⚡ A 🧵: 1️⃣ All MPL holders can convert to SYRUP and access staking, regardless of their geography.
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$SYRUP adoption continuing to grow ⚡️
Protocols with the biggest 7d uptick (%) in the number of tokenholders: 1. @maplefinance 2. @FenixFinance 3. @Aleph__Zero 4. @ResearchHub 5. @LiskHQ 6. @NodleNetwork 7. @PichiFinance 8. @Kwenta_io 9. @jojo_exchange 10. @Instadapp
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New $SYRUP listing ⚡ We're excited to share that SYRUP is now available for trading on @bitvavocom All Bitvavo users can now buy, sell and hold SYRUP and get exposure to the growth of the Maple Syrup ecosystem ➡️ Find out more here: bitvavo.com/en/maple-finance…
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Another week. More momentum for @maplefinance 🥞 TVL continues to grow and Drips continue to flow ⚡️ Here’s our weekly roundup. A 🧵⬇️
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Syrup - November Update ⚡️ 🔸 242M in TVL 🔸 14.7% net APY 🔸 153% collateral ratio Consistent high yield continues, all sourced from overcollateralized lending to institutions. @pendle_fi and OKX @wallet Drips are live - see yours now on syrup.fi/drips
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All of you love $SYRUP staking ⚡ 🔸 81% of $SYRUP that was migrated by users got staked 🔸 45% of circulating $MPL has already been migrated 🔸 Stakers currently earn 7.14% straight from the treasury Stake now: syrup.fi/stake
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Leading up to $SYRUP launch, $MPL price action has increased the value of Drips 📈 At $30 $MPL, Syrup users have earned an average total APY of 25.3%, with 14.5% from Drips and 10.8% from native yield ⚡ There’s still time to earn Drips. Explore at syrup.fi 🧡
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November is off to a bang 💥 Markets are ripping, and users are gearing up for $SYRUP launch this Wednesday We are so back This week in a nutshell: a 🧵 ⬇️
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Nice to have @maplefinance & Syrup growth showcased in @ournetwork__ 🧡 More details at the link below ournetwork.xyz/p/on-291-real… ⬇️
JUST IN: Read World Assets 🌍 | OurNetwork #291 🌐 Sector Update | @RWA_xyz 🥞 @syrupfi | @fat_mac2 🏛️ @Securitize | @marcov_91 Link to read 🔽 ournetwork.xyz/p/on-291-real…
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It’s been a monster week @maplefinance. Let’s dive in ⚡ The syrupUSDC pool on @pendle_fi has experienced rapid inflows. The pool has reached $7M in liquidity in four days and is already a top 10 pool on Pendle 📈 app.pendle.finance/trade/poi…
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SyrupUSDC solved the DeFi yield trilemma : 🔸 Most consistent high yield (14.7% APY atm) 🔸 Fully liquid (redeemable instantly for USDC on @Uniswap or @Balancer) 🔸 Overcollateralized (by liquid digital assets) Allocate on syrupdotfi
SyrupUSDC Instant Liquidity is Here 💧 Users no longer need to choose between high yield and fast liquidity. SyrupUSDC now has two deep liquidity pools on @Uniswap and @Balancer with $10M in TVL allowing users to swap into $USDC instantly. Details below ⬇️
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With $MPL at $32 — @pendle_fi users have a 25.3% total APY in S4 📈 15.6% from Drip Rewards with 9.7% earned from native yield ⚡ The benefit of transparently locking in SYRUP token allocation at the end of each month live in action 🔥 Deposit now: app.pendle.finance/trade/mar…
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Syrup's time to shine ⭐️ With yields elsewhere in DeFi heavily compressing, Syrup yield continues to outperform 14% APY on USDC + Drips with @aave below 5% and @ethena sUSDe at 6% Short term overcollateralized loans proving again to be the superior way to earn yield
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A week to remember ⚡️ With Syrup TVL surpassing 200M (+ @maplefinance surpassing 500M), we've reached liftoff 🚀
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Drips are now live for all @pendle_fi users in the Syrup app. Go to syrup.fi/drips to see your Drips and the allocated $SYRUP amount per season you participated. PT-SyrupUSDC now yielding 18.42% 📈 Link to deposit below ⬇️
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Weekly Roundup - $SYRUP is live ⚡️ Syrup was an idea in March, a product in June, and a thriving ecosystem today all united with the $SYRUP token. Here’s to transforming institutional lending 🧡  What happened this week below 🧵 ⬇️
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We're excited to announce our partnership with @ether_fi and @veda_labs 🧡 The partnership gives ether.fi users access to Syrup's consistent yield sourced from overcollateralized loans to institutional borrowers ⚡ ➡️ Learn more: maple.finance/news/syrup-par…
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Big news coming tomorrow .. ⏱️
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The $WETH / $SYRUP LP is live on @AerodromeFI ✈️ 🔸 Currently 114.83% APR (!) 🔸 Fees and $AERO emissions Grow with @base, @aerodrome, @maplefinance and Syrup today Steps to participate linked below ⬇️
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Our little interior design firm has come a long way, and Syrup is leading the charge. 🤝 🥞
is it just me or does @maplefinance's website looks like an interior design firm?
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.@pendle_fi SyrupUSDC Update 1) SYRUP claiming dates for first Pendle SyrupUSDC pool 2) Drips are almost FREE with current PT APY of ~14%, while performance in January was ~20% Details below ⬇️
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We are excited to announce the launch of the syrupUSDC / sDAI pool - now live on @Balancer. 🧡 The pool pairs Syrup's high yield with the @MakerDAO risk-free rate. 🤝 Read more and access here: maple.finance/news/syrupusdc…
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Yet another composability unlock for SyrupUSDC: the @pendle_fi PT is now live on @Contango_xyz
Sooooo this is up and running on Contango too, via @MorphoLabs.
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🧡🔓 syrup.fi/
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A momentous day 🧡
$SYRUP is live ⚡ Convert your $MPL today and stake $SYRUP to share in the growth of our ecosystem ✳️ 5M $SYRUP will be distributed to stakers in the first 90 days 📈 It's just one click away: syrup.fi/convert 🧡 Link to FAQ below ⬇️
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⚡️ Syrup just smashed through 40MM in TVL, let the Syrup Summer begin! Check out the loans and collateral all transparently in the webapp and onchain : syrup.fi
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Season 5 Drips Rewards ⚡ 🔸 4000 Drips : 1 SYRUP 🔸Since launch, an average total yield of 17.57% 🔸Users can view their Drip rewards on syrup.fi More details below ⬇️
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Very happy to be working with one of the most competent smart contract auditor teams in crypto. Check out their guide below ⬇️
Smart contract audits aren’t optional—they’re essential. 🚨 Secure your blockchain project with confidence. Learn why audits matter, when to audit, and how to choose the perfect security partner in our ultimate guide. 👇🔒 threesigma.xyz/blog/what-is-…
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New SyrupUSDC pool live @pendle_fi 💙🧡 🔸 Target total APY of 20-27% 🔸 5X Drips Boost (highest ever) 🔸 April 24th 2025 Maturity 🔸 Powered by overcollateralized lending strategy of @maplefinance More details below ⬇️
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The launch of @tether $USDT on Syrup has contributed to a noteworthy uptick in @maplefinance TVL. 🧡 The first 25M in USDT deposits will receive a 50% boost in Drip rewards. ⚡️ (filling up fast 👀) Learn more at the link below: maple.finance/news/usdt-now-…
Maple has crossed $400M in TVL 🧡 🟠 @syrupfi TVL surging with the launch of $USDT ⚡️ 🟠 $4.6B in lifetime originations 🥞 🟠 Users accumulating Drips rewards See you at 500.
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Syrup 🤝 @assetdash AssetDash is a top multi-chain portfolio tracker Users can now track their Maple and Syrup positions live in the AssetDash app 🧡 Happy Dashing ⚡
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Syrup is thrilled to announce a new integration with @Web3WithBinance. 🧡 To mark the milestone, Binance Web3 Wallet users will receive a 2X Drips boost. ⚡️ Binance Web3 Wallet users can now access Syrup’s consistent high yield on USDT and USDC. 🥞
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Power of margin calls 🦾 Most DeFi lending protocols wait till liquidation to take action At Syrup we don't. We send borrowers margin calls at conservative collateralization levels to collect more collateral in volatile market times Good for borrowers and great for lenders 🧡
February Market Update The loan book remains healthy amid the market turbulence with the Maple team working around the clock to monitor and manage the loan book. ✅ 15 margin calls; all cured in hours ✅ 0 liquidations ✅ All loans at healthy levels More details below ⬇️
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Drips Claiming Schedule Pt. 2 📅 Syrup Season 1-7 users are now able to claim a portion of their Drips Rewards. You can find more details including the claim link below:
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The biggest week in Syrup history 🧡 🟠 Syrup surpasses $100M TVL 🟠 @tether USDT deposits climb, as users claim a 1.5x boost on Drips ⚡️ 🟠 Users claimed a 2x boost by depositing from @okxweb3 & @Web3WithBinance 🟠 Launched Day 1 Support for @coinbase cbBTC 💙 Onwards.
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⚡️ Syrup has hit 25M+ TVL and is now live for public access! 🟠 18%+ net yield to lenders to date 🟠 Current book is 160%+ overcollateralised 🟠 Additional Drips Rewards on top The best yield available in DeFi, accessible for all now on syrup.fi
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Syrup TVL accelerates beyond 200M 📈 Q2, we built it. Q3, we launched it. Q4, we will grow and integrate it. Higher yields. Greater rewards. Proven and trusted. 🧡 Institutional yield to the world ⚡ Next stop 300M
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The time has come. $USDT is now live on Syrup 🧡 SyrupUSDT depositors will receive a 50% Drips boost for the first 25M deposited. ⚡ With 10M already deposited, act now to claim your boost. ⏳ ➡️ Deposit now: syrup.fi/lend?usdt
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Top performing yield in 2024 continues in 2025 with new @pendle_fi pool. Target APY of 20-27% with a 5X Drips boost. Link to deposit in tweet below.
syrupUSDC flying under the radar as one of the highest (if not the highest) yielding stablecoins in the space 🧐
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We're excited to announce a strategic partnership with @exodus_io. 🧡 As part of our Drips rewards program, depositors into @syrupfi via Exodus Wallet will receive a 2x boost in Drip rewards. 🥞🫶⚡️ ➡️ Details here: maple.finance/news/exodus-wa…
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🥞 Syrup is powered by @maplefinance 's Institutional Infrastructure that has facilitated over $4B in loans to over 100 Institutional Borrowers. Syrup is fully built on top of Maple -- benefitting from Maple's track record in security and transparency.
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We’re excited to partner with @turtleclubhouse. 🧡 Turtle Club is the first phantom liquidity protocol that democratises liquidity deals across Web3 without smart contracts or counterparty risks. Become a Turtle to earn Turtle Points as well as a 50% boost on Drip rewards. 🧡
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We're excited to announce the launch of the syrupUSDC / USDC pool on @ajnafi. 🧡 The pool is also now available through @summerfinance_ for lenders and borrowers. ⚡️
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SyrupUSDC consistently higher than @ethena sUSDe in the last 30 days as per @vaultsfyi data 📈 SyrupUSDC has been trading at a healthy 3-4% APY premium 📊 Drips as an additional sweetener on top 🧁 Generated with overcollateralized lending 🛡️ ➡️ Available on syrupdotfi
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Another TVL milestone for Syrup 🥞 A safe haven during market volatility 🧡 The most consistent high yield in DeFi ⚡️ Deposit today at syrup.fi.
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SyrupUSDC base spot APY now moved up to 15% net APY for all users. Drips on top with an average historic APY of 7%. Total target APY of 20%+ on syrupdotfi. Highest overcollateralized lending yield available in DeFi.
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Season 8 Drips Rewards ⚡ 🔸  4000 Drips : 1 SYRUP 🔸  Since launch, an average total yield of 19.8% 🔸  14.7% average APY in February, outpacing peers by up to 10% 🔸  Users can view their Drip rewards on syrup.fi/drips More details below ⬇️
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GM(aple) and Happy Monday 🧡 🟠 $USDT depositors continue to earn a 1.5x boost on Drips rewards⚡️
TVL since launching $USDT deposits on @syrupfi.
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$SYRUP claiming is live ⚡ Drips season 1, 2 and 3 participants can now claim their first 1/3 allocation on syrup.fi/drips Claim before the 18th of January ahead of the next window opening to receive this allocation More details below ⬇️
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Syrup continues to deliver high-impact partnerships and integrations. 🧡 Enjoy this feature in @decryptmedia.⚡️ Deposit today: syrup.fi decrypt.co/249137/syrup-laun…
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In this Syrup monthly report, we cover: 🟠 The growth of Syrup users and TVL, propelled by integrations into @pendle_fi + @okxweb3 🟠 Lightning-fast liquidity due to technical upgrades 🟠 Yield outperformance compared to leading onchain lenders ⚡️ Link below ⬇️
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GM(aple) and Happy Wednesday 🧡 A quick 🧵 on MIP-010: SYRUP Token Launch and MPL < > SYRUP Conversion: 🥞
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SyrupUSDC Drips almost FREE again on @pendle_fi A 5X Drips boost yielding 13.4% APY on Pendle, with the underlying yielding 12.6% Drips historically performing at 7%, with 5X boost being the largest one ever 12.6 + 7 = Exp. yield at ∼20%+ yielding only 13.4% now
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After a successful first month of Syrup, we are excited to print the results of our Drips rewards campaign.🧡 Early participants in the Drips rewards program received up to a combined APY of 38.3% in yield and Drips rewards. ⚡️
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Syrup Monthly Update for September 🥞
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⚡️ Syrup is giving access to the track record of @maplefinance Secured Lending ✅ 15.7% Net APY on USDC in the last 3 months ✅ 200MM+ in loans, largest institutional DeFi platform ✅ 0 losses ✅ DeFi access, no onboarding required ➡️ Track Record: bit.ly/4aMRJH3
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GM(aple) and Happy Monday 🧡 A brief 🧵 overview of Syrup to start your week ⚡️
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Have you been earning Drips in seasons 4-8? The new claim period is open now. Go to syrup.fi/drips to claim your $SYRUP and stake it. This is the final batch for seasons 4-7 with season 8 being fully unlocked too. Claims are open until April 18th.
Drips Claiming Schedule Pt. 2 📅 Syrup Season 1-7 users are now able to claim a portion of their Drips Rewards. You can find more details including the claim link below:
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What matters in yield? 1) Consistency - you want high yield today, and tomorrow 2) Attractive - you want a high APY 3) Protected - it needs to be safe, where principal is protected Your deposits, backed by collateral, earning consistent high yield on Syrup ∼13% APY + Drips
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2024 look back 1⃣ It all started with Syrup being announced 6 short months ago
⚡ Announcing Syrup — a new protocol unlocking Institutional Yield: 🟠 Real yield through secured lending 🟠 Seamless DeFi access 🟠 Powered by @maplefinance 🟠 Earn yield + Drips rewards ➡️ Get early access: syrup.fi
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Consistent, high yield. 🧡⚡️ @maplefinance is a safe haven in DeFi. GM(aple).
Maple as a Safe Haven in DeFi 🧡 Amidst market volatility, all pools remained overcollateralised, and lenders continued to earn consistent, high yield. The platform also saw $9M in net inflows - a sign of lender confidence. ⚡️ Full update here: maple.finance/news/august-ma…
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Volatile market conditions allow quality to rise to the surface. It's an honour to be featured in @ThorHartvigsen's recent article in @onchaintimes highlighting Syrup's unique value proposition. 🧡⚡️ Follow Thor for more data-driven insights. onchaintimes.com/outperformi…
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Syrup is thrilled to announce a new integration with @okxweb3 🧡 To mark the milestone, OKX users will receive a 2X Drips boost.⚡ OKX Wallet Users can now access Syrup’s consistent high yield on USDT and USDC. 🥞
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Drips Claiming Schedule 📅 SyrupFi Season 1, 2 and 3 participants will be able to start claiming their first batch of $SYRUP tokens from Drips December 18th on syrup.fi/drips. Detailed schedule with all unlock dates for Seasons 1-7 below 🧵⬇️
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Learn more about how the $SYRUP integration into @MosoHQ enables a new utility unlock:
We’re taking a deep dive into @maplefinance and their SYRUP token Learn why this is one of the most valuable crypto back options available on Moso Shop. Earn. SYRUP.
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🟢 New $USDT deposits continue to flow in 🧡 🟢 Existing depositors continue to top-up 🤝 Limited space is available for our $USDT promotion - deposit today to secure a 1.5x Drips boost ⚡️ syrup.fi
The launch of @tether $USDT on Syrup has contributed to a noteworthy uptick in @maplefinance TVL. 🧡 The first 25M in USDT deposits will receive a 50% boost in Drip rewards. ⚡️ (filling up fast 👀) Learn more at the link below: maple.finance/news/usdt-now-…
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🟠 @okxweb3 and @Web3WithBinance users have earned 2x boost on Drip rewards by depositing on Syrup.⚡️ 🟠 Compounded daily Drips and boosts have driven APY for Syrup users - up to 43.1% APY across two Seasons. The campaign is live. 🧡 Deposit today at syrup.fi.
Drips Rewards Season 3 is live.⚡️ A quick 🧵recap of Seasons 1 & 2: 🧡
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August is Syrup's most successful month so far, with TVL more than doubling and users continuing to earn consistent, high yield. ⚡️ Today, we're excited to print the results of the Season Two Drips rewards campaign and announce the start of Season Three. 🧡 Details below: 🔽
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We love the confidence @AustinBarack. 🧡
5x in TVL since March. Forget $500MM,$1B incoming
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⚡️Syrup will officially open for deposits on the 25th of June! Due to overwhelming demand, we’ll be opening in stages, starting with the earliest sign-ups first. ➡️ Sign up now to secure your access code: syrup.fi
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Current APR on syrupUSDC / sDAI for LPs: +12% 🧡 The pool pairs DeFi high yield with the de facto DeFi risk-free rate. ⚡️ The secondary market liquidity provided by @Balancer also enables instant withdrawal for lenders. 🤝 Access the pool today: balancer.fi/pools/ethereum/v…
We are excited to announce the launch of the syrupUSDC / sDAI pool - now live on @Balancer. 🧡 The pool pairs Syrup's high yield with the @MakerDAO risk-free rate. 🤝 Read more and access here: maple.finance/news/syrupusdc…
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Syrup Benefits for You 🔸 Powered by @maplefinance with over 5B+ in loans 🔸 Consistent high yield by lending to institutions 🔸 Loans are overcollateralised with the collateral transparently visible on syrup.fi/details Access now with 50% Drips Boost in next 3 days
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New utility unlock for $SYRUP: you can now earn rewards on @MosoHQ
We've added SYRUP from @maplefinance as our newest crypto back option on Moso 🥞 Now shop at over 4000+ online stores and earn SYRUP rewards with every purchase! Shop. Earn. SYRUP.
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(Re-)commitments are live ⚡️ 🔸 1.5X Drips Boost for 3 Months 🔸 3X Drips Boost for 6 Months Available for both current and new depositors Earn maximum Drips now on syrup.fi
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Always great to see support from the community 🧡
Always great to see previous cycle teams have a come back story. Maple Finance now boasting a $484M TVL w/ $78.4M outstanding loans from the recently launched Syrup Institutional lending product. Strong momentum heading into the token migration on November 13th. $MPL
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⚡️ Syrup Season 01 & 02 Drips Performance 🟠 Up to 43.1% APY in native yield + Drips with an average APY of 29% 🟠 Generated with overcollateralized lending 🟠 Collateral transparently shown in-app ➡️ Season 03 has just started, deposit now on Syrup.fi
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Some 🔑 excerpts from the @edgevana teardown of @maplefinance 🥞
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Season 4 Drips Rewards ⚡ 🟠 3000 Drips : 1 SYRUP 🟠 Since launch, an average total yield of 21.0% 🟠 Users can view their Drip rewards on syrup.fi More details below ⬇️
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⚡️ Syrup will have seamless DeFi access while providing exclusive institutional yields generated by @maplefinance Listen in below as @joe_defi explains ⬇️ In case you haven't already, sign up on syrup.fi
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Product Update: 🟠 Monitor collateralisation levels and verify collateral onchain using our updated Details page. ⚡️ Consistent, high yield with full transparency 🧡
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Thanks @PendleIntern 🤝 YT-syrupUSDC earns the maximum multiplier of 3x Drips, which produced a total APY of 18.9% for Season 4 ⚡️
The monthly report on Drips is finally out (thank you @syrupfi for the consistent transparency 🤝) and one thing seems to jump out... YT-syrupUSDC is massively undervalued 🥞 317% APY is on the table with YT and here's the mathematical how 🧵👇🏻
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The syrupUSDC pool on @pendle_fi currently has surpassed $11M in liquidity, and PT_syrupUSDC is currently yielding 14.98% with 99 days to maturity But strong tailwinds are increasing the attractiveness of the YT Let’s dive in ⚡
Y'all sleeping on syrupUSDC 🥱 YT only trading at 13.15% Implied APY now. "But Dr.Intern, long yield APY is -44.5%!" THAT'S A LIE. A closer estimation should be friggin 371% APY (55% ROI upon maturity) 😤 Or 𝑯𝑰𝑮𝑯𝑬𝑹
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Thanks to our community and partners for making it all possible 🧡 @ether_fi @veda_labs @turtleclubhouse
A solid week. 🟠 Surpassed $160M in TVL in 3 months 🟠 Loan book continues to grow across @maplefinance and @syrupfi pools 🟠 Integrated with @ether_fi & @veda_labs 🟠 Partnered with @turtleclubhouse 🟠 Still offering double-digit yield and Drips rewards Life is good.
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18%+ all generated with overcollateralized lending. The best part? The yield source and all collateral is verifiable on syrup.fi and onchain:
What's the best place to park stablecoins these days? 46% APY PT-sUSDe market just expired today so need to find something new.
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📈 Institutional Yield Onchain Syrup's loans and collateral are transparently visible on syrup.fi and onchain. We also now issue monthly reports with performance data and updates to further enhance transparency. ➡️ Read August's update below:
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$100 billion in annual loan volume seems far-fetched until you realize that the tokenized asset market is poised to grow by tens of trillions of dollars by 2030 idk we'll see
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⌛ Syrup Countdown — 6 days to launch!!⌛ As part of the Syrup Countdown will we release important details each day: ✅ Yield ✅ Roadmap ✅ Drips ✅ Token ✅ Security ✅ Product ➡️ Follow us on X and turn on notifications to stay updated Early access: Syrup.fi
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Consistent yield outperformance on Syrupdotfi 🧡
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Them: There is no way Syrup can keep generating such consistent high yield every single month. The Yield:
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2024 look back 1️⃣6️⃣ And that's a wrap. In 2024 we launched it and in 2025 we will scale and integrate it. We're beyond excited for another year of growth and yield outperformance for everyone. Happy new year! 🧡
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2024 look back 3️⃣ Launched on June 25th with early access and raised 3M in deposits
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Syrup Roadmap: 1) Deep integration throughout the DeFi ecosystem with other protocols and distribution partners; 2) Expanding supported assets to include USDT and other assets; 3) Enhancing the use of Syrup pool tokens (syrupUSDC) through their acceptance as eligible collateral on major lending protocols; These initiatives will further solidify Syrup's position as a cornerstone yield protocol in DeFi. @syrupsid
@maplefinance FOUNDERS' LETTER 2024 🥞 Six months ago, we set ourselves a formidable challenge: "It is Time to Grow Again." Our journey over these past months has been marked by execution, innovation, and an unwavering commitment to our long term vision. Seeing Maple’s growth has only motivated us further to continue this positive trajectory. Late 2023 saw early product-market fit with the launch of Maple Direct and our new Secured Lending program. This early validation of Maple's new direction left us with a strong foundation. As outlined in our 2023 Letter, there were a few primary objectives heading into the new year: 1) Create differentiated lending products that deliver superior risk-adjusted interest yields; 2) Expand access to Maple Direct’s institutional-grade yields to the broader Maple community and DeFi ecosystem; 3) Revitalize Maple's token ecosystem. During the first half of 2024, we saw meaningful progress on these three key objectives. TVL has grown more than 3x since the beginning of the year, recently crossing $300 million for the first time since late 2022. Active lenders have grown more than 120% since the start of the year, and importantly, lenders using multiple pools increased by 300%. Expanding Maple Direct’s Secured Lending Offerings: After launching Maple Direct’s inaugural Blue Chip Secured Pool in the back half of 2023, we came into 2024 with a focus on expanding and scaling the secured lending products. During the first half of the year, Maple brought multiple differentiated yield products to market, including our High Yield Secured Pool as well as Altcoin Lending. Our Blue Chip Secured Pool has also continued to grow, showing strong performance across changing market conditions. High Yield Secured has been a notable success story. It has paid more than 18% net APY interest for lenders since since its inception in March. Growth has accompanied these strong interest rates, allowing the pool to scale to more than $30 million worth of deposits and become the fastest growing product in Maple’s history (though @syrupfi may soon change that). On the Altcoin Lending side, we have served lenders with new token-denominated lending products that have allowed them to retain asset exposure amidst the price action of the (almost) bull market, as well as earn interest in-kind in tokens. Most notably we have seen growth across the majors, offering lending opportunities for BTC, ETH, and SOL holders. While we are excited about the potential of these new product lines, we are not overlooking the continued growth of Maple Direct’s first product. From the first $75,000 loan coming out of Blue Chip Secured last August, the pool has now grown to more than $30 million worth of loans outstanding. Overall, Maple Direct has now originated more than $300 million of loans, with all Maple pools averaging 96% utilization since the start of the year. Maple's infrastructure for managing these growing books has improved immensely with margin calls all being met on average in less than 4 hours. Syrup Launch: Maple returned to its DeFi roots with the complete scoping, development, and launch of Syrup—a new sister protocol built on top of the Maple smart contracts. Syrup enables broader access to the same secured lending engine that we have been building for four years, bringing institutional-grade yield products to the offshore DeFi community. The development and launch of Syrup has been a testament to the team's ability to innovate rapidly. From ideation to launch in less than three months, Syrup represents a significant milestone in our mission to bridge institutional-grade lending with the wider DeFi ecosystem. Key features of Syrup: 1) DeFi access to high-quality institutional yields. Fully collateralized lending backed by digital assets to top institutions; 2) Leveraging Maple's battle-tested infrastructure that has originated over $4 billion in loans; 3) An innovative rewards program, "Drips," for early users and fostering community engagement Syrup saw initial success in its early access period, with TVL growing rapidly to $30 million as users recognized the value of accessing institutional-grade lending through DeFi. The full launch for non-US users took place last week, marking a significant expansion of our ecosystem's reach and impact. Syrup Roadmap: 1) Deep integration throughout the DeFi ecosystem with other protocols and distribution partners; 2) Expanding supported assets to include USDT and other assets; 3) Enhancing the use of Syrup pool tokens (syrupUSDC) through their acceptance as eligible collateral on major lending protocols; These initiatives will further solidify Syrup's position as a cornerstone yield protocol in DeFi. Revitalizing Maple's Token Ecosystem: A key objective for 2024 was to breathe new life into the Maple community and provide additional utility. As part of the Syrup launch, "Drips" were introduced, an innovative points program designed to reward early adopters and active participants in the Syrup protocol. Looking ahead to the second half of 2024, the token ecosystem will be enhanced in a couple of key ways: - MPL to SYRUP Migration: plans for the migration are being finalized. This transition will streamline the token ecosystem, creating a unified token that represents the entire Maple-Syrup ecosystem. The migration will be designed to ensure a smooth transition for all MPL holders, with ample communication and support throughout the process. - Staking: In Q4, staking for SYRUP tokens will be introduced by tokenholder vote. Token holders will be given an additional rewards mechanism. - Community Engagement: Going forward, there will be a greater focus on community engagement. This will include regular AMAs, community calls / X Spaces, and increased transparency into the ecosystem roadmap. Tokenholders will be active participants in shaping the future of Maple and Syrup. Conclusion: As we reflect on the first half of 2024, we're incredibly proud of the progress made in expanding Maple's offerings and reach. The success of Maple Direct and the launch of Syrup have positioned Maple strongly coming into Q3. As we continue scaling Maple and shepherding Syrup's integration into the broader DeFi ecosystem, we remain committed to Maple’s vision - empowering the digital asset economy with secure, innovative lending solutions. We're grateful for the trust and support of our community, partners, and team members who have been instrumental in our success thus far. - Sid and @joe_defi 🥞
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The kind of thing you like to see 🧡⚡️
TVL just passed $365M across @maplefinance and @syrupfi The chart below (*trailing 30d yields on Eth mainnet as of Aug. 22nd*) shows us why The yield is good.™️
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