Maple Finance

Maple Finance, represented by the token SYRUP, is an on-chain asset manager that connects institutional borrowers seeking capital with lenders who wish to earn yield on that capital. It operates within the real-world assets category, meaning the loans it facilitates are tied to real businesses and financial activity rather than purely on-chain collateral. The protocol addresses the difficulty institutional borrowers face in accessing flexible, transparent credit and the difficulty lenders face in finding yield backed by verifiable, underwritten strategies.

Lenders deposit capital into strategies that have been underwritten by Maple, and institutional borrowers draw from those strategies, repaying principal plus interest over time. The yield lenders receive is sourced directly from borrower interest payments, with every position and transaction recorded on-chain for verification. SYRUP is the protocol's token and operates within the Ethereum and Base ecosystems; the data does not specify a consensus algorithm, as Maple is an application-layer protocol that inherits settlement from the underlying blockchains it is deployed on.

The protocol's revenue model is built on the interest that institutional borrowers repay on their loans; lenders receive that yield, and Maple as the manager takes fees for underwriting and administering the strategies. Over its history the protocol reports having originated more than $25 billion in loans, managed $4.8 billion in assets, and distributed more than $100 million in yield to lenders. The circulating supply of SYRUP stands at approximately 1.167 billion tokens against a current market capitalisation of roughly $249.9 million, and no maximum supply figure is recorded, meaning the total token supply is uncapped as of the data provided.