Drips Season 11: Continued expansion and new yield opportunities

Drips Season 11: Continued expansion and new yield opportunities
2m · Oct 15, 2025
  • Season 11 marked a period of explosive growth for syrupUSDC and syrupUSDT. The combined AUM reached $3.3B+, almost a 2x increase from season 10.
  • DeFi vaults presented opportunities for maximizing yield with APYs reaching up to 35%.
  • Both syrupUSDC and syrupUSDT made progress towards being listed on Aave with votes expected in Q4.
  • syrupUSDC and syrupUSDT continued to deliver sustainable yields throughout Q3.
  • Multichain expansion covered Arbitrum (syrupUSDC) and Plasma (syrupUSDT).

Q3 2025 saw both syrupUSDC and syrupUSDC solidify their standing as DeFi’s leading yield dollar assets. Both assets reached new all-time highs in AUM, with their combined total surpassing $3 billion. This scaling was driven by continued multichain expansion and the rollout of new DeFi strategies and vaults, which provided onchain allocators and regular defi participants with well-curated high yield opportunities.

syrupUSDC continued its growth trajectory in Q3, scaling on Kamino and expanding to additional venues including Jupiter and Fluid. syrupUSDT’s pre-deposit vault on Plasma demonstrated strong LP demand, attracting $200 million in deposits shortly after launch. This highlights sustained demand for transparent, high-yield strategies on dollar assets that both syrupUSDC and syrupUSDT provide.

syrupUSDC was also added as a yield bearing dollar margin for perpetual futures on Drift Protocol. This opened an entirely new growth vector for DeFi's fastest-growing liquid yield dollar with Drift users benefitting from institutional-grade yield that compounds while actively supporting trading positions.

syrupUSDC and syrupUSDT made meaningful progress toward being listed on Aave in Q3, advancing through the governance process with onchain votes for both assets expected to go live in Q4. A successful listing would integrate the assets into DeFi’s largest lending network, enhancing capital efficiency and accessibility for users,

Claims and conversion ratio

The claim will go live on October 18 at 12pm UTC. Drips will be claimable on https://app.maple.finance/earn/drips. This is the only claim link.

The conversion ratio is 40,000 Drips for 1 SYRUP. syrupUSDC/T continue to provide sustainable base yield with Drips adding a meaningful boost. There are various DeFi opportunities for further yield leverage through vaults and multichain deployments.

Season 12

Drips season 12 is live now with Drips continuing in Q4. Your deposits continue to accumulate drips.

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