Syrup is excited to announce that SyrupUSDC is now available on Pendle. The collaboration enables Pendle users to access Syrup’s unique yield source, and earn a 3X boost in Drips rewards, while leveraging the Pendle protocol to introduce new trading opportunities.
Pendle users can now benefit from:
- Fixed yields on SyrupUSDC by holding the PT-SyrupUSDC token to maturity.
- Speculating on the yield of Drips by trading the YT-SyrupUSDC token based upon the implied APY and their view on the value of Drips.
- Supply liquidity and benefit from potential trading fees and Pendle emissions.
Users can deposit any asset they would like, which will automatically be converted into USDC and subsequently deposited into Syrup to mint the Pendle SY token, which will split up in PT-SyrupUSDC and YT-Syrup USDC. Users can choose to hold both, sell one through the liquidity pool or provide liquidity themselves to benefit from potential trading fees and Pendle emissions.
Syrup's consistent high yield sourced from short duration, overcollateralized loans is an ideal source of fixed yield for Pendle users. The additional Drip rewards, with strong historic performance of Season 1, Season 2 and Season 3, provide additional incentives for trading and speculating on the APY.
Maple co-founder Joe Flanagan added commentary on the partnership: “Pendle is an innovative financial primitive that has unlocked unique trading and yield generating strategies. We are pleased to partner with Pendle to add more composability to Syrup’s yield from institutional lending.”
About Syrup
Syrup leverages Maple Finance’s digital asset lending infrastructure to make institutional yield accessible throughout DeFi. Syrup yield is generated from fixed-rate, overcollateralised loans to institutional borrowers. These short duration loans enable Syrup to provide consistent high yield and short term liquidity for users. The strategy has a track record of consistent yield outperformance compared to leading DeFi lending protocols.
About Pendle
Pendle is a permissionless yield-trading protocol where users can execute various yield-management strategies. Through yield tokenization, users split yield-bearing tokens into their principal and yield-bearing components, introducing unique trading and earning opportunities. By tokenizing yield and creating a marketplace for future returns, Pendle has established itself as a significant player in the DeFi ecosystem, offering users unprecedented control over their yield-generating assets.
Disclaimer
Please note that Syrup is not available in the US and Australia.
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