Key Highlights

• Maple’s asset-based lending approach is one of the few sources of high-quality, sustainable RWA yield in DeFi.
• Syrup enables seamless DeFi access to Maple’s Secured Lending track record; with 15.7% net APY generated in the last 3 months. 
• Syrup brings real, differentiated yield to DeFi, enabling access to previously opaque markets, new financial primitives and additional utility for Syrup LP holders. 

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Maple: A Category Leader in RWA Yield

With a mission to bring corporate lending markets on-chain and nearly $4BN in loan originations to date, Maple is the home of digital asset lending. Our borrowers are the largest crypto institutions with large balance sheets of crypto assets that they like to borrow against. 

Asset-based lending with digital asset collateral such as BTC, ETH, and SOL is highly attractive for lenders because these assets are ultra-liquid and trade 24/7/365, as opposed to other assets like real-estate, which are highly illiquid. This means that it is far easier to protect lenders in a downside scenario where collateral needs to be liquidated. 

Maple’s secured lending pools, which offer collateralized USDC loans to institutions, are currently open to Accredited Investors and have yielded 15.7% net APY to USDC lenders in the last 3 months. But what if everyone could get a taste of these sweet real yields?

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Introduction to Syrup

Building upon Maple’s successes to date, Syrup is a new protocol that combines the strength of Maple's lending infrastructure with the open access of DeFi. Syrup enables permissionless access (no onboarding required) to secured institutional lending, allowing a wider range of participants to benefit from the high-quality ABL yields generated via deals sourced from Maple's established network of institutional borrowers.

Syrup will offer DeFi users:

• Highest quality risk-adjusted yield available anywhere on-chain, generated from collateralized lending to large institutions.
• Seamless access to battle-tested institutional lending infrastructure and the strong track record of Maple Direct, which has originated 220M of corporate loans with 0 losses.
• DeFi composable LP tokens (syrupUSDC) for additional utility in DeFi via integrations with AMMs, money markets, and more.

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How Syrup Works

To start earning yield with Syrup, users can deposit USDC into the Syrup dApp and receive LP tokens (syrupUSDC) in return. These tokens represent the user's share of the liquidity pool and will immediately begin accruing yield. In addition, the composability of the SyrupUSDC LP token enables wide DeFi integrations with AMMs, lending and borrowing protocols and more, unlocking the potential for true secondary market activity, which would be a first for any RWA project.

Syrup has the potential to become a major bedrock yield asset in DeFi due to its three primary differentiators:

1. High-quality RWA yields: With a focus on asset-based lending, Syrup provides access to the best risk-adjusted yields anywhere on-chain, generated from collateralized loans to established and creditworthy institutions.
2. Proven track record: Maple's battle-tested smart contract infrastructure and thorough underwriting process ensure the security and reliability of the platform, while Maple Direct’s 220M in loan originations with 0 losses to date demonstrates the team’s commercial acumen.
3. Composability: Syrup plans to partner with major DeFi protocols, allowing users to access AMMs for enhanced liquidity and use syrupUSDC as collateral across the DeFi ecosystem.

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A New Era for RWAs in DeFi

Maple has been a pioneer at the intersection of RWA and DeFi for a number of years now, and the launch of Syrup marks a significant milestone in this progress. The yield generated by Syrup is sourced from secured loans to the largest institutions in the digital asset ecosystem, fully collateralized with digital assets. Maple's rigorous underwriting framework and active collateral management ensure that lenders' principal is protected even in volatile market conditions. By providing broad access to these high-quality yields, Syrup is poised to significantly enhance the way that both institutions and retail users interact with DeFi. In addition to broadening access, Syrup’s DeFi integrations will unlock the potential for true secondary market activity for the first time in the RWA space. Get early access today at Syrup.fi!

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