March 12, 2025
Cryptocurrency News

Maple Finance Unveils Syrup Yield Platform and Token

Maple Finance, a cryptocurrency lending firm, has introduced Syrup, a new loans platform and rewards token aimed at integrating institutional-friendly yield-bearing digital assets with the decentralized finance sector.

Mapleā€™s Syrup platform offers users up to 15% yields by depositing Circleā€™s USDC stablecoin. Users receive LP tokens (syrupUSDC) and additional yield in the form of ā€œDrips,ā€ a loyalty payment derived from the usage of the SYRUP rewards token, as announced in a press release on Tuesday.

Holders of MPL, Mapleā€™s native token, will be able to migrate to the SYRUP token on a one-for-one basis.

While many centralized crypto lending firms have struggled over the past few years, Maple has endured the bear market by maintaining a stringent approach, accepting deposits only from accredited investors with comprehensive know-your-customer checks. This method allows Maple to operate within the U.S. and serve regulation-conscious institutions, according to Maple co-founder Joe Flanagan.

ā€œWe aim to keep our institutional focus while staying true to our DeFi origins,ā€ Flanagan said in an interview. ā€œThe launch of Syrup allows us to function within the broader DeFi ecosystem. This enables us to bring institutional-quality yields sourced from over-collateralized loans to the largest institutions and a DeFi audience.ā€

Featured Image: Freepik

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