{"id":311717,"date":"2024-05-28T21:27:39","date_gmt":"2024-05-28T15:57:39","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=311717"},"modified":"2024-05-28T21:27:39","modified_gmt":"2024-05-28T15:57:39","slug":"maple-launches-new-protocol-enabling-permissionless-lending-to-insitutions-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/maple-launches-new-protocol-enabling-permissionless-lending-to-insitutions-crypto-news\/","title":{"rendered":"Maple Launches New Protocol Enabling Permissionless Lending To Insitutions &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<p>Alongside the launch of Syrup Finance, Maple will also replace MPL with the new SYRUP token.<\/p>\n<div>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/podcasts-and-videos\/podcast\/bringing-institutions-and-businesses-to-defi-maple-finances-sidney-powell-2\">Maple Finance<\/a>, an uncollateralized lending protocol for institutional players, has unveiled Syrup, a new DeFi protocol allowing users to permissionlessly lend USDC to institutions.<\/p>\n<p>Maple told The Defiant that users can earn yield on the platform by depositing USDC, for which they receive syrupUSDC liquidity provider (LP) tokens. The USDC deposited onto the platform\u00a0funds secured loans issued to the largest institutions in crypto.<\/p>\n<p>\u201c[Syrup] will unlock yield opportunities that\u00a0don&#8217;t exist,\u00a0and help to democratize institutional private credit,\u201d\u00a0Joe Flanagan, co-founder of\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/news\/blockchains\/will-maple-recover-from-this\">Maple Finance<\/a>, told The Defiant.\u00a0\u201cWe are broadening the DeFi offer.\u201d<\/p>\n<h2>Maple bounces back<\/h2>\n<p>Maple Finance currently boasts $45 million in total value locked (TVL), according to DefiLlama. <\/p>\n<p>Users have currently taken out $100 million worth of outstanding loans from the protocol, a sizable 80% drop from its May 2022 peak. <\/p>\n<p>However, the protocol has been enjoying a recovery in terms of both TVL and loan activity since bottoming out in early 2023.<\/p>\n<figure><figcaption class=\"text-center text-xs\">Maple Finance TVL. Source: DeFi Llama.<\/figcaption><\/figure>\n<h2>Syrup Finance<\/h2>\n<p>Syrup will offer a points program to early adopters\u00a0in a bid\u00a0to attract users. Early adopters will be rewarded in the form of\u00a0\u201cDrips\u201d\u00a0when depositing\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/education\/what-is-usdc\">USDC<\/a>\u00a0to the protocol.<\/p>\n<p>Flanagan said an upcoming airdrop has\u00a0been earmarked\u00a0for the\u00a0protocol\u2019s\u00a0earliest adopters. He noted that the Maple community recently\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/community.maple.finance\/t\/mip-009-upgrade-mpl-token-design\/300\">voted<\/a>\u00a0to increase the total supply of tokens by 10%\u00a0or\u00a01 million\u00a0tokens\u00a0to facilitate\u00a0\u201cgrowth incentives.\u201d<\/p>\n<p>Users who lock their stablecoins for up to six months will receive boosted rewards, with Maple targeting a maximum return of 15% annually.<\/p>\n<p>Flanagan also noted that\u00a0Maple\u2019s\u00a0MPL token will\u00a0be replaced\u00a0by the new SYRUP\u00a0token, which launches today.\u00a0MPL holders will be able to migrate to SYRUP on a one-for-one basis. SYRUP will inflate at a rate of 5% annually for three years.<\/p>\n<p>Syrup will focus\u00a0on\u00a0Real World Assets (RWAs), a trending narrative in the cryptocurrency space.\u00a0\u201cWe are focusing on becoming the best platform for the most liquid assets as ever more RWAs come on-chain.\u201d<\/p>\n<p>Syrup will host a two-week signup period, followed by an early access window\u00a0that will last\u00a0between four and six weeks.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Alongside the launch of Syrup Finance, Maple will also replace MPL with the new SYRUP token. Maple Finance, an uncollateralized lending protocol for institutional players, has unveiled Syrup, a new DeFi protocol allowing users to permissionlessly lend USDC to institutions. Maple told The Defiant that users can earn yield on the platform by depositing USDC, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":311721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-311717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/311717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=311717"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/311717\/revisions"}],"predecessor-version":[{"id":311723,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/311717\/revisions\/311723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/311721"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=311717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=311717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=311717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}