Bittime - Maple launched Syrup Protocol in June 2024, combining DeFi and permissionless institutional lending. Syrupfi users can earn yield on deposited USDC and receive 'Drips' rewards. A new SYRUP token will also be introduced.
Maple Institutional DeFi Platform Schedules Syrupfi Launch
Maple is pleased to announce the launch of Syrup Protocol, powered by Maple. Syrup combines the power and security of Maple's lending infrastructure with the flexibility and inclusion of DeFi. This launch will be scheduled for June 2024.
Benefits to be Obtained from Syrupfi
First-time users can get institutional loans without permission through the Syrupfi platform. After depositing USDC to the platform, they will receive LP tokens (USDC syrup) and start earning immediately. The largest crypto institutions, fully collateralized by digital assets, provide syrupfi with all the loan benefits.
With Maple's robust smart contract infrastructure, institutional network, and underwriting framework that has generated $4 billion in loans to date, Syrupfi users can confidently access high-quality yields.
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Early Syrupfi Users Will Receive Rewards
Early Syrupfi users will receive real rewards in return for their participation through an innovative points system called “Drips”. Participants who deposit USDC into Syrup will earn Drips.
If they lock their deposit for six months, they will also earn additional rewards. With additional yield from Drips, Syrup targets 15% yield in USDC at launch.
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Maple and Syrup Will Introduce SYRUP Token
Along with the launch, Maple and Syrup will introduce the SYRUP token in an effort to support and expand the community. MPL token holders can migrate one-for-one to SYRUP tokens without using additional dilution plans.
The droplet will be converted to SYRUP.fi to support the launch and initial growth period. Once the SYRUP token is launched, holders will be able to stake their SYRUP to share in the growth of the shared ecosystem.
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Conclusion
Maple announced that the Syrup Protocol will launch in June 2024. Syrup combines the flexibility of decentralized finance with Maple's institutional lending, allowing users to get permissionless loans and generate yield on deposited USDC. First-time users will receive “Drips” rewards and additional bonuses if they hold their deposit for six months. Maple also issues SYRUP tokens, which can be obtained by those who own MPL tokens without diluting them. SYRUP holders can stake their tokens to share in the growth of the ecosystem.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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