We are excited to announce that Tether is now live for lenders on Syrup, enabling USDT holders to access consistent high yields from institutional lending.

On the back of Syrup doubling in TVL in the month of August, the pool launched with 10M USDT in deposits, raised through an oversubscribed seed program. To mark the announcement and allow wider participation, we are providing a 1.5x Drips boost for all lenders until the Syrup USDT pool reaches 25M in deposits.

Drip rewards will begin converting to the SYRUP token upon its scheduled launch in November 2024. Claim your boost now at syrup.fi/lend?usdt

Syrup leverages Maple’s smart contract and lending infrastructure, making yield from institutional lending—once opaque and exclusive—available to everyone. The addition of USDT enables Maple’s borrower network to access liquidity from the most widely-held stablecoin. Moreover, USDT depositors on Syrup will receive syrupUSDT, a yield-bearing LP token that integrates seamlessly with liquidity pools and AMMs across DeFi.

Maple Co-Founder and Executive Chairman Joe Flanagan shared his thoughts on the launch of USDT: “Adding USDT to our accepted assets for lenders further expands the lender and borrower network for Syrup. As we continue to expand the range of digital assets for lending, we are taking further steps to become a global hub for institutional lending.”

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About Syrup

Syrup makes consistent high yield available to everyone in DeFi. The yield is generated by Maple’s institutional lending platform that provides fixed-rate, overcollateralized loans to institutions. These short duration loans enable Syrup to provide consistent high yield as well as short term liquidity for Syrup users. The strategy has a track record of consistent yield outperformance compared to other DeFi lending protocols. Syrup has quickly scaled to more than 80M in TVL and is a trusted source of real, differentiated yield in DeFi.

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About Tether

Tether is a pioneer in stablecoin technology and the creator of the most widely-circulated stablecoin in the world today - USDT. The company has grown from an early innovator in stablecoin technology to one of the largest holders of government debt, cash equivalents, commodities, and digital assets globally. 

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Disclaimer

Please note that Syrup is not available for US or Australia-based persons.

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