What is SYRUP?

Preface

In today's rapidly developing world of cryptocurrency and decentralized finance (DeFi), Syrup is a decentralized protocol that extends Maple's expertise in institutional digital asset lending to provide a wide range of avenues for obtaining high-quality, secure returns. It is gradually attracting the attention of investors and developers, not only providing efficient asset management and trading functions, but also creating new opportunities for users.

What is Syrup?

Syrup is a decentralized protocol that extends Maple's expertise in institutional digital asset lending to provide a broad range of ways to access high-quality and secure returns. Syrup is the first to allow users to obtain secured institutional loans without permission. By depositing USDC on the platform, users can receive LP tokens (sy rupUSDC) and immediately start earning returns. All generated returns come from secured loans provided to cryptocurrency institutions and are fully collateralized by digital assets.

Syrup's income is generated from Maple's digital asset lending platform, which provides fixed-rate, over-collateralized loans to institutional borrowers. These short-term loans enable Syrup to provide continuous high returns and short-term liquidity to Syrup users. Compared to leading DeFi lending protocols, this strategy has a consistently excellent performance record.

How it works

Maple is a leading digital asset lending platform, which operates based on innovative smart contract technology and structured models, providing users with secure, transparent, and efficient lending solutions. Maple's smart contracts support real-time monitoring of loan activities, ensuring information transparency, and customizing loan opportunities based on users' liquidity needs, risk preferences, and return expectations. The platform is designed with the Syrup structure, which accesses the Maple fund pool through the Syrup smart contract router and establishes an exclusive independent pool to ensure income and risk isolation, providing users with higher security and a clear legal framework. Meanwhile, Maple Direct, as its lending department, is responsible for underwriting, construction, and management of loans, providing funds only to reputable cryptocurrency native institutions, which need to use liquid digital assets as collateral to reduce risk. The smart contract infrastructure of Maple also has real-time monitoring capabilities, dynamically tracking collateral levels, loan terms, and financial disclosures, ensuring compliance and providing direct verification transparency in the lending process, making it a trustworthy lending platform in the digital asset economy.

Product Introduction

1. Borrowing: Obtain fixed income through collateralized loans

2. Staking: Increase users' SYRUP balance through protocol rewards.

3. Convert MPL: Convert to SYRUP for staking to earn rewards

4. Credit Reward: Syrup credits can receive SYRUP rewards

Token Economics

The SYRUP token economy is fully launched with the implementation of the latest governance proposal MIP-010 by Maple. The protocol will mint approximately 1.15 billion SYRUP tokens, which does not represent an increase in token supply, but rather the conversion of 1 MPL to 100 SYRUP tokens to ensure the interests of MPL token holders are not diluted. Previously, Maple DAO voted to restructure the Maple Treasury, including a one-time issuance of 1,000,000 MPL tokens and a 3-year issuance plan of 5% annually. With the approval of MIP-010, all the issuance originally planned will be converted into SYRUP tokens, including 1 billion new Maple supply, 100 million SYRUP from the initial inflation plan, and 54,930,000 SYRUP generated from the inflation schedule until October 1, 2024. The migration contract will allow MPL holders to convert their tokens to SYRUP, and based on the established token inflation schedule and issuance plan, it is expected that the total supply of SYRUP tokens will reach 1,228,740,800 by September 2026.

SYRUP Token Features

When discussing the uniqueness and importance of SYRUP, there are several key points worth noting:

1. Financial Freedom: SYRUP introduces a new financial model that allows users to bypass traditional intermediaries and engage in peer-to-peer financial transactions. This not only improves market efficiency but also reduces transaction costs, enabling more people to participate in the global financial market.
2. Smart Contract: This token uses smart contract technology to automatically execute contracts based on preset conditions. This technology reduces reliance on manual monitoring, improves transaction transparency, and significantly reduces the risk of fraud and default.
3. Globalization: SYRUP supports transmission and transactions globally. Wherever users are, as long as they are connected to the Internet, they can easily obtain and use SYRUP.

SYRUP is not just a cryptocurrency, it represents a new financial instrument and investment method, providing more people with the opportunity to participate in the global financial market and disrupting traditional investment models and financial systems.

Summary

Syrup is an innovative decentralized protocol that extends Maple's institutional digital asset lending expertise to provide users with a permissionless platform for institutional loans collateralized by USDC deposits. Users receive LP tokens (syrupUSDC) by depositing USDC into the platform and can immediately start earning returns, all of which come from collateralized loans provided to cryptocurrency institutions. Syrup is not only a cryptocurrency, but also represents a new financial instrument and investment method, providing new opportunities and experiences for participants in the global financial market.