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Liquid yield from overcollateralized institutional credit.
syrupUSDC is an ERC-4626 vault token representing deposits into Maple's institutional lending pools, where vetted trading firms borrow against liquid collateral. Yield accrues into the token's exchange rate, with liquidity via DEXs and scheduled withdrawals.
syrupUSDC became 2025's breakout credit product by pairing real underwriting with DeFi liquidity — TVL crossed $2B as centralized-exchange yield products withered. The yield is credit spread, not treasury rate: it compensates for borrower default and collateral-liquidation risk in stressed markets. Maple's record through the 2022 cycle (losses in uncollateralized pools, since discontinued) shaped today's conservative overcollateralized design.
Generated from issuer disclosures and reviewed against sources listed below. Not investment advice.
Addresses shown only where independently confirmed against explorers and issuer documentation. Holder and transfer analytics are available via the linked explorers — approximately 30K holders across networks.
Yield comes from lending to trading firms against collateral — higher return, genuine credit risk, not government-backed.