SYRUP Explained: The Core Governance & Yield Token in the Maple Ecosystem

What is SYRUP?

Figure:https://maple.finance/syrup

SYRUP is a new Token launched by Maple, designed to integrate Maple Institutional (the institutional lending platform) with Syrup.fi (an open DeFi protocol). SYRUP is not just a governance Token; it is the central hub for all revenues, power, and participation within the Maple ecosystem.

Users can obtain stSYRUP by staking SYRUP, thereby enjoying protocol rewards, participating in platform governance, and also having the opportunity to share in the protocol’s growth dividends. The existence of SYRUP aligns the interests of all stakeholders, establishing a fair and transparent financial network.

The token model of SYRUP

In the process of migrating from MPL to SYRUP within the Maple ecosystem, MIP-010 proposes a fixed exchange ratio of MPL to SYRUP at 1:100. The total supply is expected to reach 1.22 billion coins by 2026, including the following parts:

• Initial conversion issuance: 1 billion coins
• Inflation issuance (10% initial + 5% per year): approximately 220 million coins
• MPL not exchanged after the deadline will be managed by the Syrup Strategic Fund.

This design ensures that existing users are not diluted while providing sufficient Token reserves for future governance and incentives.

How to participate in SYRUP governance?

SYRUP is the only governance Token of Maple. Only users who stake SYRUP into stSYRUP are eligible to participate in governance voting. Voting topics include:

• New Product Launch Proposal
• Smart Contract Upgrade
• Token allocation and buyback mechanism
• Treasury Restructuring Plan (e.g., MIP-012)

Governance voting is conducted through Snapshot, requiring a minimum threshold and consensus to be reached within 7 days.

Analysis of the SYRUP Staking Mechanism

Users can stake SYRUP as stSYRUP through syrup.fi/stake. Staking period:

• You can withdraw your stake at any time, SYRUP has no lock-up period.
• Stakers will receive protocol rewards proportionally, including interest service fees and inflation rewards.
• The initial 90 days will linearly release 5 million SYRUP to early stakers.
• stSYRUP will continue to appreciate as earnings grow.

Its underlying mechanism is based on the ERC-4626 standard and the RDT model of Maple, ensuring continuous, transparent, and fairly distributed returns.

Why choose SYRUP?

SYRUP brings high-quality institutional financial returns into the DeFi world, allowing users to not only enjoy stable returns but also actively participate in project governance. This dual-value model is one of the few mature architectures in the current DeFi market.

• Stable returns: from institutional lending management fees and service fees
• Risk is controllable: all loans are secured by high-quality assets with strict reviews.
• Low participation threshold: DeFi users can easily obtain stSYRUP and directly participate in governance.
• Growth Driver: The SYRUP buyback mechanism enhances the intrinsic value of the Token.

With the continuous development of Syrup.fi, SYRUP will become a key bridge connecting CeFi and DeFi.

Figure:https://www.gate.com/trade/SYRUP_USDT

SYRUP is now live on Gate’s spot market, with a price of about $0.54 as of July 1, 2025. It has recently increased significantly, so please trade cautiously and be aware of the risks.