Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.58% | 4.93% | 22.53% | 14.09% | 16.34% | 0.78% |
Comparison
Developer
Top Holders
| Address | Token | Quantity | Percentage | Value |
|---|---|---|---|---|
| 0xc7e8...0b45 |   SYRUP | 156,714,801.94 | 12.59% | $29.63M |
| Binance 8 (acec) | SYRUP | 83,438,672 | 6.7% | $15.78M |
| 0xca31...9c59 | SYRUP | 77,358,966.48 | 6.22% | $14.63M |
Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
|---|---|---|---|---|---|---|---|
| 1 | BBitDeltaDEX | SYRUP/USDT | $0.1905 | $3,709 | $3,055 | $4,202,862 | 58.12% |
| 2 | BBinanceCEX | SYRUP/USDT | $0.1902 | $97,824 | $82,035 | $945,070 | 13.07% |
| 3 | GGroveXDEX | SYRUP/USDT | $0.1902 | $201,914 | $165,712 | $742,868 | 10.27% |
| 4 | SYRUP/USD | $0.1903 | $125,145 | $235,120 | $542,672 | 7.50% | |
| 5 | BBTCCDEX | SYRUP/USDT | $0.1903 | $2,589,756 | $1,664,095 | $472,568 | 6.53% |
| 6 | BBlockFinDEX | SYRUP/USDT | $0.19 | $104,416 | $103,128 | $405,362 | 5.61% |
| 7 | WWhiteBITDEX | SYRUP/USDT | $0.1902 | $29,297 | $29,041 | $303,352 | 4.19% |
| 8 | SYRUP/USDT | $0.1907 | $7,286 | $6,221 | $301,298 | 4.17% | |
| 9 | BBinanceCEX | SYRUP/USDC | $0.1902 | $106,756 | $93,953 | $290,991 | 4.02% |
| 10 | UUpbitCEX | SYRUP/KRW | $0.1932 | $64,416 | $79,986 | $268,654 | 3.71% |
Follow Updates
Follow Lists
People
About Syrup
Syrup is the retail-facing lending arm of Maple Finance, a DeFi protocol focused on institutional credit. Users deposit stablecoins like USDC or USDT into permissionless pools and receive yield-bearing tokens such as syrupUSDC or syrupUSDT. These funds are pooled together with institutional capital and lent out to vetted borrowers such as hedge funds and market makers, with interest flowing back to depositors.
Syrup's core value proposition is bridging institutional-grade credit risk management with DeFi accessibility. Unlike typical DeFi lending that relies purely on over-collateralization, Maple's model adds professional due diligence and credit assessment. Loans are still over-collateralized (typically 125%-150%), and all flows, collateral ratios, and liquidation events remain on-chain. Syrup also integrates with protocols like Pendle and Balancer for yield tokenization and liquidity provision.
The market pain point Syrup addresses is the gap between institutional lending quality and retail DeFi participation. Traditional DeFi lending lacks credit evaluation, while institutional credit markets are closed to ordinary users. Syrup opens this middle ground: retail users gain exposure to institutional-grade lending yields without KYC, while the protocol maintains disciplined risk management.
In the past six months (March to September 2026), Syrup has shown strong growth. As of H1 2026, Maple's assets under management reached $4.6 billion, up 81% year-over-year, with outstanding loans hitting a record $1.9 billion (up 123%). Total value locked surged past $2.26 billion in August 2026, with a single-day increase of over $220 million. The syrupUSDG product was listed on Robinhood, contributing over $200 million in new AUM. The protocol's APY stood at 4.765%, outperforming the benchmark by 117 basis points. A buyback proposal is under consideration: when monthly revenue exceeds $2 million, up to 30% of revenue would be used for buybacks. Current monthly revenue is approximately $1.29 million, approaching this threshold.
Regarding negative events: in September 2025, the Core Foundation initiated arbitration and filed a lawsuit against Maple in the Cayman Islands, alleging breach of exclusivity and misuse of confidential information related to the lstBTC partnership. The court issued an injunction restricting syrupBTC issuance and CORE token disposal. However, a full and final settlement was announced on May 22, 2026, with mutual releases of all claims and no admission of liability. Maple continues to develop syrupBTC.
Syrup, the institutional-grade DeFi lending protocol built on Maple Finance, has reached several milestones with long-term significance.
First, the migration of the native token from MPL to SYRUP at a 1:100 ratio in late 2024 marked a pivotal shift in the protocol's governance and incentive structure. This was followed by a series of large-scale token movements to major institutional players, including a 69.89 million SYRUP transfer to FalconX and a 5.37 million transfer to Spartan Group, signaling growing institutional adoption and liquidity depth.
Second, the accumulation of 5.2 million SYRUP by a suspected Wintermute wallet and multiple inflows to Coinbase Prime (totaling over 31 million SYRUP) demonstrated active market-making and exchange integration, enhancing the token's accessibility and trading infrastructure.
Third, the listing of SYRUP on Robinhood in early 2025 represented a significant expansion into mainstream retail trading platforms, broadening its investor base beyond crypto-native users.
These developments collectively underscore Syrup's transition from a niche lending protocol to a widely recognized institutional DeFi platform, with increasing cross-institutional flows and retail accessibility.
Positive:
MIP-021 passed with 99.97%, linking buybacks to monthly revenue (10% below $1.5M, 20% $1.5-2M, 30% above $2M), effective from August; June buyback of 2.5M SYRUP ($375k), July buyback of 853k SYRUP ($136.8k) created buying pressure. Strong revenue: trailing 12-month revenue $22.02M, ARR ~$17.5M. SYRUP holders receive 25% of monthly revenue via SSF for buybacks and reserves, with clear rights. The 5% annual emission ends in September 2026; no seed/investor unlocks.
Negative:
Buyback tokens are not burned but held in the Strategic Fund (~77.3M SYRUP), potentially overhanging supply; before emission ends, ~9.2M SYRUP is still added quarterly; the Strategic Fund holds a large balance, and deployment or sale would add sell pressure.
Co-founders & core executives:
Sidney Powell (Co-founder & CEO): Co-founder and CEO of Maple Finance, CFA charterholder. Previously served as Treasurer/Portfolio Manager at Angle Finance, a non-bank lender, and held roles at National Australia Bank (Securitization & Corporate Finance), participating in $3B+ bond issuances and managing a $200M bond funding program. Under his leadership, Maple surpassed $17B in cumulative loan originations and $5B in assets, with AUM growing over 10x through 2025, launching Syrup and syrupUSDC.
Joe Flanagan (Co-founder): Co-founded Maple in 2019 with Sidney Powell in Melbourne. Previously served as CFO of an Australian listed company and worked at PwC.