Last week was intense for the RWA industry.
Many were significantly impacted by BlackRock's announcement to expand $BUIDL across $APT, $ARB, $AVAX, $OP, and $POL.
However, I was more intrigued by Maple DAO's launch of the $SYRUP token to unify governance and share growth with the community.
1 $MPL converts to 100 $SYRUP. Over 1.5M MPL were converted into 150M SYRUP in just one day.
➜ $SYRUP can be staked to receive staking rewards derived from the growth of Maple and Syrup - users can stake on syrup.fi/stake.
➜ Also, the $WETH / $SYRUP LP is live on @AerodromeFI, currently offering more than 100% APR + fees and $AERO emissions.
Maple and Syrup offer corporate credit yield through overcollateralized loans backed by assets like $BTC, $ETH, and $SOL:
- Since launching the High Yield Secured pool in March and Syrup in June, TVL on the platform has grown over 700%, surpassing $600M.
- Protocol revenue has similarly increased, with October seeing a 700% rise since the start of the year.
- Total APY on Syrup is 21%. In addition to staking rewards on $SYRUP, Syrup continues to provide consistent high yields from permissionless institutional lending in DeFi.
