Syrup is pleased to announce a strategic partnership and allocation with the largest liquid restaking protocol on ETH. The collaboration adds a consistent and differentiated yield source for ether.fi users, while unlocking a new credit market for institutional holders of eETH.
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Syrup has been approved as the newest eligible deployment avenue for Veda’s USD Liquid Vault strategies on ether.fi. They’ll be added to a curated list of top DeFi yield protocols. The integration provides ether.fi users with access to Syrup’s consistent yield sourced from overcollateralized loans to institutional borrowers.  Syrup targets 15% yield to lenders of USDC and USDT, and in three months since launch has surpassed $150M TVL (more information on Syrup’s differentiated yield source can be found here).

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Rewards for users depositing into the USD Liquid Vault will now include Syrup’s Drips, 3x ether.fi points, and 3x Veda Points. Drips Season 3 is live and runs through September 30th; all Drips convert to SYRUP tokens during the MPL token migration in Q4 2024.

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Maple's co-founder Joe Flanagan added commentary on the announcement: “This partnership with ether.fi and Veda is a milestone toward providing real, differentiated yield more broadly in DeFi. Integrating with ether.fi is one step toward leveraging the lending and technical infrastructure of Maple as broadly as possible, as Maple seeks to become a global hub for institutional lending.”

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ether.fi CEO Mike Silagadze also added: “This partnership with Syrup fortifies the value offered to ether.fi users by providing a more stable and resilient form of yield, especially amidst prevailing market volatility.  We look forward to integrating further with Maple and Syrup to provide additional yield sources for ether.fi depositors and an additional source of liquidity for eETH holders.”

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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. 
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About ether.fi ‍  

ether.fi is the pioneer of Ethereum liquid restaking; now the largest protocol in the space with more than $6B in TVL, eETH is interoperable throughout all of DeFi and accrues ETH staking and restaking rewards while preserving full asset custody for the user.  Additionally, for eETH and stablecoin holders, ether.fi offers Liquid Vaults: automated DeFi strategies that provide a simple access point to use their tokens in the DeFi ecosystem. 
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About Veda 

Veda is a platform that provides yield infrastructure by embedding yield across blockchains, protocols, and apps. Veda empowers builders with unparalleled access to efficiently capture and deliver the value generated by the decentralized finance (DeFi) ecosystem. Our vision is to onboard the next billion users into the digital asset world by seamlessly making yield native.  Veda can support a wide range of protocols, including layer-1’s, layer-2’s, and DeFi primitives, marking the next evolution in yield-generating technology. Founded by experts in decentralized and traditional finance, computer science, machine learning, and the United States Armed Forces, Veda is at the forefront of transforming access to yield.

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Disclaimer

Please note that Syrup is not available in the US and Australia.