what's maple finance?
Maple Finance is a decentralized finance (DeFi) platform specializing in institutional-grade on-chain lending, connecting accredited crypto-native borrowers with lenders through transparent, overcollateralized loan products. It serves as an asset manager with a focus on capital markets expertise, enabling flexible financing for institutions while providing lenders with high-yield, fixed-rate opportunities via its Syrup ecosystem. Key features include permissionless yield-bearing assets like syrupUSDC and syrupUSDT, which have seen significant TVL growth, reaching billions in assets under management. The platform supports expansions to multiple blockchains such as Solana, Plasma, and Linea, accepting diverse collateral like ETH, USDT, and others for tailored loans. Despite claims of robust overcollateralization, it has faced scrutiny over user liquidations during volatility and 31-day withdrawal lock periods in certain pools. Maple emphasizes revenue efficiency and institutional security, positioning itself as the world's largest on-chain asset manager with over $10 billion in loans originated.
Maple Finance's Syrup product boosted RWA TVL to $25B in Private Credit.
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Contributed to RWA TVL reaching $25B through Syrup product growth in the Private Credit sector.
syrupUSDC paid out $1.43M in yield during the week ending April 10, 2026
Included as a defining force in onchain capital markets by Keyrock and Securitize, and a private credit protocol in a tokenized RWA market overview (April 2026).
Generated $7.3 million in revenue during January-February 2026, ranking 4th among RWA projects by revenue for this period.
Reached $1.8M in revenue for March 2026.
Loans outstanding crossed $2.5 billion for the first time.
Has approximately $252M in deposits earning yield from corporate loans as shown in the app interface.
Has approximately $40M of actual equity backing deposits onchain across three Morpho markets.
Utilizes $115M in RLUSD and $90M in PYUSD as borrowed capital funding its lending operations.
Experienced a default in V1 pool in December 2022 for approximately $36M at 1x leverage.
Recorded over $440M in net new deposits during March 2026.
Reached all-time high supply levels for syrupUSDC and syrupUSDT in March 2026, with syrupUSDT reaching $1.43B.
Achieved $1,948,000,000 in borrowed amounts across all chains in the 30-day period ending on 2026-04-06.
Controls 23% of syrupUSDC TVL on Ethereum through omnichain liquidity position, with balance down 18% week-over-week as of April 2026.
Confirmed no direct exposure to the Drift security incident, with syrupUSDC and syrupUSDT remaining overcollateralized and all protocol operations continuing normally.
Generated more fees than Uniswap over a 24-hour period ending on 2026-04-01.
Reached $1.2B in active loans.
Integrated with Whop, a fintech app with 20M+ users, to provide tokenized overcollateralized lending services on Plasma chain.
Paid out $2.70M in yield over the last 30 days, ranking 7th among yield-bearing stablecoins, and $683K during the week ending April 10, 2026.
Offers up to 30% unsecured USDC credit lines against MNT with zero over-collateralization through 3jane.
Paid out $6.11M in stablecoin yields through syrupUSDC over the last 30 days, ranking second among stablecoin yield products.
The team is presenting at EthCC 9 RWA Summit in Cannes on 2026-03-31, with a talk on the future of onchain credit.
Mentioned as a lending infrastructure provider for RWA capital in a thread discussing tokenized stocks and RWA market trends.
Hiring for a Senior Content & Brand Manager role requiring 6+ years of experience in content or brand marketing in fintech, crypto, or financial services.
Allocates capital in the Sky Agent Network (Obex Cohort 1) among 12+ independent allocators across fixed income, private credit, AI infrastructure, energy, and onchain capital markets, including $1B across 8 projects into tokenized real-world assets. Works with Centrifuge and Securitize for sUSDS yield generation, backed by a $2.5B mandate, powering a 3.75% Sky Savings Rate.
Co-hosts DeFi Day Cannes conference on 2026-03-30 at Palais des Festivals et des Congrès alongside Aave, Chainlink, and Stablecoin.
Reached $962M in 30-day mint volume for syrupUSDT, ranking 10th among stablecoins by this metric.
Generated $13 million in revenue.
Asset holders crossed 7,300, reaching a new all-time high.
Generated $1.76B in borrow interest fees during 2025 alongside Aave, Morpho, Spark, and Fluid.
Co-hosts DeFi Day in Cannes at EthCC[9] with Aave, Chainlink for DeFi researchers, allocators & industry leaders.
syrupUSDC leverage looping strategy via Morpho and KyberNetwork maintains 6.2-6.9x leverage across three Morpho markets with zero liquidations, receiving 14,000 IN token incentive rewards for epoch ending on 2026-03-26.
Reached $350 million in syrupUSDC deposits on Kamino on Solana, with over 50% of holders.
Reached 1.59B syrupUSDC circulation; market cap $1.78B.
Reached 879.8M circulation for syrupUSDT; market cap sits at $990 million.
Total deposits reached an all-time high of $2.5 billion.
Reached $450M total market size on Solana through the Kamino deployment, achieving a new all-time high.
Integrated with DeFi Saver Smart Savings, enabling DeFi Saver users to access Maple Finance yields through Summer Finance's Lazy Summer vaults.
Surpassed $1 billion in syrupUSDT deposits on Plasma, a new all-time high.
Featured in an interview with Laura Shin discussing institutional crypto lending, the Syrup stablecoin, multi-chain deployment strategy, and DAO governance challenges.
Integrated with Ethena's proposed USDe reserves expansion as an institutional lending venue alongside Coinbase and Anchorage; Ethena allocated funds to Maple Institutional earning 5.4% APY.
Integrated into Royco Dawn v2.1 platform with syrupUSDC tranche added as a new investment option.
Featured in a Bell Curve podcast episode with Sid from Maple Finance and Theo Golden from Baillie Gifford discussing onchain finance.
Ranked #2 institutional lender in Q4 2025 by Galaxy Digital, holds $1.32B SyrupUSDC and 67% market share in onchain private credit.
Experienced $163M in outflows during the week ending March 10, 2026.
The Syrup Strategic Fund bought back approximately 2 million SYRUP tokens in Q4 2025.
Reached $50M+ in inflows for syrupUSDT across 4 vaults on BNB Chain.
SYRUP token is fully unlocked with no remaining vesting schedule.
Maple Finance's governance token SYRUP is used for governance, institutional crypto-backed lending pools, staking rewards, and DeFi yield access.
Reached $4.6B in AUMs and $4B in TVL.
Generates $30M+ annual recurring revenue (ARR), operates at a net profit, and is cashflow positive. Generated $2.5M protocol revenue in December 2025.
Allocates 25% of revenue monthly to the SSF (Stability and Security Fund) for buybacks and balance sheet strengthening.
Reached $1.8B TVL with $16.8M annual revenue from institutional undercollateralized lending operations.
Reached $1.8 billion in tokenized fund assets, ranking fifth among tokenized fund platforms. syrupUSDT and syrupUSDC sit among top 10 yield-bearing stablecoins by TVL, generating yields from institutional lending.
Experienced the 8th highest percentage increase in $100K+ whale transactions over the past month for SYRUPUSDC.
syrupUSDC and syrupUSDT maintain overcollateralization and no exposure to Resolv or USR assets, or lending markets across Fluid, Morpho.
Hiring Senior Solidity Engineer for a full-time remote position in Europe or UAE.
Mentioned as a fully encrypted mobile and web app for AI chatbot interactions, positioned as "Signal for AI" that uses only open models for sensitive personal matters and research.
Ranked #10 among DeFi protocols by TVL on DefiLlama.
Originated $3.3 billion in loans year-to-date in 2026.
Holds $18 million in stablecoins and liquid assets on the balance sheet.
Generated $7.3M in revenue during January-February 2026, ranking 4th among RWA projects by actual revenue.
Leads private credit RWA category, connecting institutions to DeFi capital with $5B liquid assets and $20B locked.
Participated in an interview on the DeFi Decoded podcast discussing risk management, institutional adoption, and tokenized assets; featured for private credit tokenization.
syrupUSDC collateral deposits on Morpho increased from $10M to $115M year-to-date across Ethereum and Arbitrum, representing a 10x growth.
Integrated into Gauntlet's USDC Frontier vault on Kamino, allocating across PRIME, Maple, and Main Markets within Gauntlet's Frontier curation framework.
Integrated with YO protocol as a yield source for yoUSD through syrupUSDC product.
Top 100 addresses, smart money, and whales increased $100K+ transactions for SYRUPUSDT, ranking 5th highest percentage increase over the past month.
Reached $4.2 billion AUM in onchain credit markets, representing a year-over-year increase of over 450%.
Lending over $200 million to a trading firm collateralized by XRP tokens.
Total bridge volume for syrupUSDT and syrupUSDC surpassed $5B.
Reached $300 million in XRP deposited for lending purposes on the platform.
Paid $18.73M in cumulative yield, representing 8.76% of $213.87M total yield from yield-bearing stablecoins.
syrupUSDT currently has approximately half of its underlying TVL deployed into lending across DeFi protocols.
syrupUSDT currently yields 4.5% APR.
Generated $9.9M in fees over the 30-day period, representing a 44.5% increase compared to the previous period.
Provides obligations that are purchased by Maker/Sky protocol as part of their asset acquisition strategy.
Hosts investor call February 26, 2026, streaming on X, to discuss performance, revenue targets, token utility, projected financials, product roadmap, and pipeline; releases a report March 31, 2026.
syrupUSDC product scaled past $200M, partners with Aave on Base.
Generated $2.1M in revenue in 2025, representing a 5x increase compared to the previous period.
Deployed syrupUSDC and syrupUSDT, backed by 165%+ overcollateralized loans with real-time verifiable collateral, yielding real-world returns across Plasma, Ethereum, and Base; syrupUSDT also deployed on Venus Flux on BNB Chain. syrupUSDC distributes 68% on Ethereum, 20% on Solana, and 10% on Base.
Monthly revenue in February 2026 matches October-level revenue as of mid-February.
Originated over $20B in loans to more than 100 institutional borrowers to date.
Reached all-time high of $1.7B in syrupUSDC deposits, generating 4.7% 30-day APY, becoming the second largest tokenized fund.
Crossed $2.5B in combined syrupUSDC and syrupUSDT deposits from institutional borrowers and reached $2.8B combined market cap, both new all-time highs.
Restored web application functionality after compromise; smart contracts and user deposits remain secure and unaffected.
Maintains 99%+ repayment rate with zero defaults through overcollateralization risk management, issuing two margin calls cured within one hour.
Mentioned as an example of institutional growth on Solana alongside tokenized equities, in the context of Mantle's cross-chain expansion.
Generated $150,000 in income from tri-party loans through Arkis and Anchorage in Q4 2025, with $150 million deployed on Anchorage and $15 million on Arkis.
Integrated with InfiniFi to provide overcollateralized BTC-backed loans, receiving $6.7M in lending from InfiniFi's liUSD holders at 8.78% APY.
Executives are speaking at the Blockworks DAS institutional crypto conference alongside representatives from SEC, Federal Reserve, CFTC, OCC, BlackRock, Robinhood, Swift, Ethena, Binance, and Sky.
SYRUP token experienced a 6.25% price decline over a 24-hour period on January 21, 2026, ranking among the largest losers in the crypto market.
Advancing undercollateralized lending infrastructure using zkTLS technology to enable credit lines based on verified Web2 data such as bank balances without revealing user identity.
Featured in the first episode of "Revenue Meta" podcast series by The Edge Pod, with Co-Founder and CEO Sid Sid discussing SYRUP and token value accrual mechanisms.
Final Drips claim goes live on 2026-01-18
Launched a Rewards Page dashboard that tracks syrupUSDC and syrupUSDT DeFi opportunities and incentives.
Serotonin's capital arm 5HTP holds an investment position in Maple Finance as part of its portfolio launched on 2026-01-13.
SYRUP/USD perpetual swap trading pair launched on GMX across Ethereum, Arbitrum, Base, and BNB Chain networks on January 9th, 2026.
Obex Star acquired $400 million in syrupUSDC over a six-week period ending in late December 2025.
Partnered with Bitwise and Cantor in 2025 to bridge institutional capital markets with onchain asset management products.