Maple
Onchain asset manager that lends to institutions and offers the syrupUSDC and syrupUSDT yield tokens.
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Maple key facts
| Category | Lending protocol |
|---|---|
| Chains | Ethereum, Solana and other networks |
| Platforms | Web |
| Custody | Non-custodial |
| US availability | Not available: syrupUSDC, syrupUSDT and syrupUSDG exclude the United States |
| Security audits | Audited for each release from 2022 to January 2026: Trail of Bits, Spearbit, Three Sigma, Cantina, 0xMacro, Sherlock, Dedaub, Sigma Prime |
| Fees | Performance fee on strategy yield, set per strategy by admins |
| Launched | Founded in 2019 |
SYRUP token
- Price
- $0.1347 +2.2% 24h
- Market cap
- $157.2M
- Fully diluted value
- $170.7M
- 30-day change
- -42.5%
Market data: CoinGecko, updated Nov 9, 2026. Educational content, not financial advice.
What is Maple?
Maple is an onchain asset manager founded in 2019 that makes loans to institutional borrowers and offers the syrupUSDC, syrupUSDT and syrupUSDG yield tokens. Syrup products are not available in the United States under Maple's own jurisdiction list. Each contract release since 2022 has been audited, most recently by Sigma Prime in January 2026.
How Maple works
When you deposit USDC, USDT or USDG into Maple's Syrup pools, you call the pool contract's Deposit function and receive syrupUSDC, syrupUSDT or syrupUSDG, which are ERC-4626 vault shares.
Their value grows as the pool earns. Maple's risk disclosure names two sources: interest on overcollateralized loans to institutional borrowers under Master Lending Agreements, and supporting strategies such as futures basis trading and DeFi liquidity provision. The tokens are not stablecoins and are not backed one to one by the deposited asset.
On the borrower side, institutions apply through Maple's contact form, complete KYC or KYB, pass a credit review and sign a master lending agreement. They manage loans in the Borrower Hub, which shows LTV, margin call and liquidation levels for every loan. Maple cites an average funding time of 24 hours.
Withdrawals go into a first-in, first-out queue and keep earning until processed. Maple says most finish in under 24 hours but can take up to 30 days, and the assets arrive in your wallet without a second transaction. As an alternative, syrupUSDC can be swapped on Uniswap or Balancer, where you bear slippage and stop earning.
How to start with Maple
- US users cannot use Syrup.
- Maple's jurisdiction page lists the United States among restricted jurisdictions and blocks residents, citizens, tax residents, US-organized entities and anyone accessing the protocol from inside a restricted jurisdiction.
- Australia, Russia and parts of Ukraine are also on the list.
- Eligible users connect a wallet at app.maple.finance/earn, approve the token the first time, and deposit.
- Institutions that want to borrow start through the contact form on maple.finance.
Maple fees and limits
Maple charges a performance fee on the yield from each DeFi strategy. The rate is set per strategy by protocol admins, can be changed at any time and is paid to the Maple Treasury. Loans carry three fee types: origination fees on fixed-term loans, deducted from the principal the borrower can draw, service fees added to interest payments, and management fees taken from gross interest. Each is split between the Pool Delegate and the MapleTreasury contract.
Risks to know before using Maple
- Your main exposure is credit risk: a borrower can default, and the risk disclosure says yield could be zero or negative and redemption at your original amount is not guaranteed. syrupUSDC is issued by Maple International Operations SPC for a segregated portfolio, and the app.maple.finance/earn interface is run by Syrup Ltd. Admins can impair and deactivate strategies, and when a strategy is reactivated they decide whether fees are charged for the inactive period.
- Maple publishes audits for each release.
- Trail of Bits, Spearbit and Three Sigma reviewed the December 2022 release, and later releases were audited by Cantina, 0xMacro, Sherlock and Dedaub, with Sigma Prime reviewing the January 2026 release.
- Maple says all relevant issues found by auditors were addressed before each release, and each report is linked from its security page to Maple's GitHub repositories.
Maple usage
From DefiLlama (TVL) (fees users paid), updated Nov 9, 2026.
Maple alternatives
Other projects people compare with Maple.
Open lending network of isolated markets and curated vaults that route deposits into them.
Lending and borrowing protocol on Solana, formerly Solend.
Lending and savings protocol in the Sky ecosystem: SparkLend borrowing and Spark Savings for USDS and USDC.
Non-custodial lending protocol where users supply crypto to earn interest and borrow against collateral.
Lending protocol where each Compound III market lends one base asset, such as USDC, against crypto collateral.
Solana DeFi protocol for lending, borrowing, leveraged yield and automated liquidity vaults.
Where Maple ranks on DappAtlas
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Maple pros and cons
- Yield comes from loans to institutional borrowers rather than token emissions
- Audited for each release since 2022, most recently by Sigma Prime
- syrupUSDC available across several chains
- syrupUSDC, syrupUSDT and syrupUSDG are not available in the United States
- Borrower defaults can impair the pool
- Admins set performance fee rates per strategy and can change them
Maple FAQ
What is Maple?
Maple is an onchain asset manager founded in 2019 that makes loans to institutional borrowers and offers the syrupUSDC, syrupUSDT and syrupUSDG yield tokens. Syrup products are not available in the United States under Maple's own jurisdiction list. Each contract release since 2022 has been audited, most recently by Sigma Prime in January 2026.
How much value is locked in Maple?
$2.3B according to DefiLlama on Nov 9, 2026. It is deployed on 5 chains: Bitcoin, Ethereum, Ripple, Hyperliquid L1, Solana.
How much does Maple cost?
Performance fee on strategy yield, set per strategy by admins, according to Maple’s own page (checked Sep 26, 2026).
How much do users pay Maple in fees?
$10M over the last 30 days, according to DefiLlama on Nov 9, 2026.
Does Maple have a token?
Yes, SYRUP. Its market cap was $157.2M on CoinGecko on Nov 9, 2026. Educational content, not financial advice.
Is Maple available in the US?
Not available: syrupUSDC, syrupUSDT and syrupUSDG exclude the United States, according to Maple’s own page (checked Sep 26, 2026).
Does Maple hold my funds?
No. Maple is non-custodial: you keep your funds in your own wallet and sign each transaction.
Sources
How this page works
Sources: Maple: official site, Maple: Syrup available jurisdictions, Maple: Security Architecture and Audits. Data as of Sep 26, 2026.
Not affiliated with any project listed. Educational content, not financial advice.