SyrupUSDC Project Update

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Biggest Stories of 2025

• Maple's founders published a Founders Letter outlining a strategic shift from AUM growth to revenue generation in 2026, with plans to extend reach across new assets, partners, and channels, and to introduce new yield strategies across stablecoins, BTC, and other liquid assets. This signals a maturing business focus aimed at creating lasting value for SYRUP holders. (December 23, 2025) 4
• Maple revealed plans to transition from MapleKit to Maple Builder Codes in 2026, enabling fully permissionless and customizable integrations where partners can onboard independently and configure parameters such as revenue share percentages. This positions the protocol for scalable, partner-driven growth. (December 19, 2025) 5
• Maple launched a new incentivized syrupUSDC market on Pendle with a 5X Drips multiplier and a base net APY of 7%+, offering LP, PT, and YT strategies with rollover from the prior August market. This expanded structured yield opportunities for syrupUSDC holders. (October 30, 2025) 3
• Maple announced a syrupUSDT vault with XPL rewards in partnership with Plasma, with a pre-deposit vault launching September 16, 2025 at a $200 million initial cap. This marked Maple's expansion into a new stablecoin asset and partner ecosystem. (September 15, 2025) 2
• Maple launched syrupUSDC on Arbitrum, supported as collateral on Fluid, Morpho, and Euler at launch, following the start of Arbitrum's DRIP Season 1. This broadened syrupUSDC's cross-chain utility and DeFi integrations. (September 3, 2025) 1
• Maple introduced MapleKit, an integration guide for its syrupUSDC ERC-4626 vault with distinct paths for frontend, backend, and smart contract integrations, backed by a $250,000 reward pool for qualified partners. This lowered the barrier for developers to build on syrupUSDC. (August 22, 2025) 6
• Maple released its Q2 2025 market update, reporting $2.6 billion in AUM at quarter-end and $3.2 billion at publication, with syrupUSD reaching $1.9 billion in AUM. The report raised full-year guidance to $5 billion AUM and $30 million in annual recurring revenue, and highlighted integrations including Binance Web3 Wallet, Morpho, Pendle, Spark, and Kamino. (July 24, 2025) 7
• Maple resolved technical issues with its AML provider that had temporarily prevented new users from depositing syrupUSDC, restoring full deposit access. This restored onboarding for new participants. (June 10, 2025) 89
• Maple expanded to Solana, introducing syrupUSDC natively to the network with $30 million in on-chain liquidity, also bridgeable from Ethereum via Chainlink's Cross-Chain Interoperability Protocol (CCIP). This extended Maple's institutional lending and fixed-rate stablecoin yields to a new blockchain. (June 5, 2025) 10
• Following the conclusion of the final MPL to SYRUP conversion window, Maple consolidated all of its products under the new Maple brand with SYRUP as its sole token. This unified the platform's branding and token structure. (May 21, 2025) 11
• The Spark team allocated $50 million in USDC into Maple's syrupUSDC, providing access to offchain lending, following Sky community approval. This represented a significant institutional capital commitment to the syrupUSDC product. (April 15, 2025) 12
• Voting concluded on the proposal to onboard Maple's syrupUSDC to the Spark Liquidity Layer on Ethereum, passing with 99.98% of votes in favor. This secured governance approval for the integration. (March 27, 2025) 13
• Voting began on a proposal to onboard Maple's syrupUSDC to the Spark Liquidity Layer on Ethereum, with voting ending March 27, 2025. This initiated the governance process for a major integration. (March 24, 2025) 14
• Voting started on a proposal to approve the foundational implementation of Maple Strategies, beginning with Sky protocol integration and seeking approval for Sky Savings Rate (SSR) as the first supported protocol. This established the base framework for future protocol integrations. (January 23, 2025) 15