About Maple Finance (SYRUP)
SYRUP is the native token of Maple Finance, a decentralized finance platform launched in 2019. The platform is designed to facilitate institutional lending by connecting accredited borrowers with liquidity providers through blockchain-based infrastructure. Maple Finance provides fixed-rate, over-collateralized loans, creating a secure lending environment and allowing liquidity providers to earn consistent yields.
The project focuses on improving traditional capital markets by integrating blockchain technology and smart contracts to ensure transparency and operational efficiency. Maple’s core lending platform caters to institutional users through a permissioned marketplace, while Syrup extends these lending opportunities to a broader decentralized finance (DeFi) audience. Syrup allows individual users to access the same yield opportunities available to institutions by participating in Maple's onchain private credit markets.
SYRUP serves multiple functions within the Maple ecosystem. It acts as the governance token, enabling holders to vote on protocol changes and participate in decision-making processes. The token also supports staking, allowing users to convert SYRUP to staked SYRUP (stSYRUP) to earn additional rewards. Users of Syrup earn “Drips,” which are converted into SYRUP tokens, providing a mechanism for broader participation in the platform’s yield generation.
The token was officially launched on November 13, 2024, and replaced the previous MPL token. Existing MPL holders can convert their tokens to SYRUP at a ratio of 1 MPL to 100 SYRUP.
The Maple Finance protocol includes four key roles. Pool Delegates, typically experienced trading firms, manage lending pools by onboarding borrowers and negotiating loan terms. Borrowers, once approved by Pool Delegates, access liquidity at predetermined interest rates and loan durations. Lenders provide capital to lending pools based on their risk and return preferences. Cover Providers contribute first-loss capital to lending pools and are compensated with a share of the interest for taking on the risk of defaults.
The total supply of the SYRUP token is 1.18B tokens while the circulating supply stands at 1.06B SYRUP. SYRUP is listed on Binance for trade and purchase. The current price of SYRYP is updated in real-time on Binance.
