Last week, Maple launched the Plasma syrupUSDT pre-deposit vault in partnership with Plasma and Midas. The $200M deposit cap was reached almost instantly, underscoring the exceptional demand for Plasma and syrupUSDT DeFi opportunities on the platform.
More details on the vault and the initial announcement can be found here.
XPL Rewards
With Plasma mainnet now being live, the XPL rewards from the vault will become claimable for users.
- Distribution: XPL tokens allocated to the vault are distributed proportionally to each user’s deposit size.
- Claiming: Users can claim their rewards on the Plasma application by connecting their wallet. Rewards will be claimable within 6 hours after Plasma TGE.
- Stay Updated: To know the exact moment when rewards go live, follow updates in the syrupUSD Telegram channel.
A total of 750,000 XPL tokens have been allocated to the vault as part of the Plasma mainnet launch. In addition to this initial distribution, depositors will accrue further XPL incentives and yields from DeFi opportunities on Plasma, alongside the base syrupUSDT yield and Drips.
DeFi Opportunities
With Plasma mainnet now live, the $200M syrupUSDT raised in the vault will be actively deployed into DeFi opportunities by vault manager Edge Capital.
- Day One Allocation: Funds will be deployed across Fluid and Euler, with Aave expected to be added shortly after.
- Ongoing Strategy: This allocation strategy ensures diversification and maximizes yield whilst leveraging blue-chip DeFi protocols.
Given the scale of XPL incentives and the strong supply expected on Plasma from day one, the vault is expected to achieve a strong and sustainable APY.
Any questions about these DeFi opportunities can be directed to the Maple team.
