Maple Finance (SYRUP)USD

Maple Finance is an on-chain asset management and institutional lending protocol that connects institutional borrowers and DeFi participants through permissioned and open-access lending pools. Sidney Powell and Joe Flanagan founded the project in 2019. The protocol operates as an application-layer system built on existing blockchains rather than running its own base-layer consensus. Core functions are governed by the Maple DAO and executed via smart contracts that manage loan origination, fee flows, and pool administration. The native token is SYRUP, which launched on 13 November 2024 following a community-approved migration from the earlier MPL token under governance proposal MIP-010. The migration window closes in May 2025. SYRUP is used for DAO governance voting and staking through the stSYRUP mechanism, which earns emissions and a share of protocol revenue. It also captures value from lending fee revenues via buybacks and the Syrup Strategic Fund treasury. SYRUP follows an inflationary, uncapped supply model under Maple governance. Initial issuance for the MPL-to-SYRUP migration was set at roughly 1.0 to 1.15 billion tokens, with total supply expected to rise to approximately 1.2 to 1.27 billion by around 2026. The protocol offers overcollateralized loans and yield-bearing products to both institutional and DeFi participants.