SyrupUSDC Is Now Live on Morpho, Curated by Gauntlet and MEV Capital

March 25, 2025

We’re excited to share that the SyrupUSDC/USDC market is now live on Morpho, with $USDC ready to borrow from Gauntlet and MEV Capital vaults.

This integration marks a major step forward for SyrupUSDC, unlocking new capital efficiency and expanding its use cases across the DeFi ecosystem.

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What This Means

SyrupUSDC is Maple’s liquid yielding dollar — a composable, onchain asset that earns yield backed by overcollateralized loans. With deep integrations across DeFi with the likes of Pendle, ether.fi and OKX, SyrupUSDC enables institutions and individuals to access consistent high yield backed by liquid crypto collateral.

With the launch of this new Morpho vault, SyrupUSDC can now be:

Supplied as collateral to earn yield and Drips (~11-12%)
Used to borrow USDC at competitive rates (~5–6%)
Looped to earn an additional ~5% with each loop

This makes SyrupUSDC not only a source of consistent high yield, but now also a core building block for leveraged DeFi strategies.

With 91.5% LTV, users can loop capital multiple times, significantly enhancing yield while maintaining safety through the risk parameters of Gauntlet and MEV Capital. There is an initial borrow limit of 20M USDC across the two markets.

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Why This Matters

This launch is a significant milestone in Maple’s mission to be the most trusted institutional asset manager onchain as it further unlocks SyrupUSDC as a productive asset across DeFi.

SyrupUSDC already has significant liquidity with over 10M TVL on Uniswap and Balancer, allowing for seamless entry and exit from vault strategies. The Morpho integration adds a powerful new use case while preserving composability and flexibility.

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An Integration Built for Scale

The SyrupUSDC/USDC market is the product of collaboration between four industry leaders:

Morpho: A leading permissionless decentralized lending platform operating on two levels. For individuals, Morpho offers tailored solutions that enable users to earn yields and borrow assets on their own terms. For developers and businesses, Morpho provides a flexible infrastructure stack that empowers the creation of custom lending applications.
Gauntlet: DeFi’s premier vault curator, leveraging data-driven strategies and crypto-economic modeling to confidently allocate funds onchain.
MEV Capital. MEV Capital is an Investment & risk management firm focused on open-ended strategies across Decentralized Finance on EVM chains since 2020.
Maple Finance: launched in 2021, Maple is an Institutional Asset Manager, offering institutional products and DeFi assets that are transparent and verifiable on-chain generating yield for its clients. Maple offers a variety of products including secured lending, structured products and institutional staking.

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