Maple Finance
Maple Finance is a decentralized lending platform that facilitates institutional capital deployment in the digital asset space through permissioned lending pools. It was founded in 2020 by Sidney Powell and Joe Flanagan and went live in May 2021. [1] [6]
Overview
Maple Finance operates as a decentralized credit marketplace that bridges traditional finance (TradFi) with decentralized finance (DeFi). The protocol addresses a critical gap in the DeFi ecosystem by enabling undercollateralized lending, moving beyond the typical overcollateralized lending models common in other DeFi protocols. This approach allows businesses to access working capital without locking up excessive collateral, making it particularly attractive for institutional borrowers. [1] [2]
Key Features
Maple Finance includes a pool delegate system and smart contract infrastructure. Pool delegates act as professional credit managers, responsible for borrower due diligence, pool management, setting lending terms, conducting ongoing monitoring, and earning performance fees based on pool success. The smart contract infrastructure automates loan origination and servicing, ensures transparent transaction recording on the blockchain, and includes programmable compliance and risk parameters along with multi-signature security features.
Maple Finance also involves permissioned lending pools with specific lending criteria, offering institutional-grade risk assessment and customizable lending terms. The platform employs a multi-layered risk management framework that includes regular borrower monitoring, default protection mechanisms, and requires pool delegates to have skin in the game. [1] [2]
Tokenomics
Maple Token ($MPL)
Maple functions as an institutional crypto-capital network utilizing the Ethereum and Solana blockchains. The project is driven by the Maple token (MPL), which acts as both a utility and governance token, adhering to Ethereum’s ERC-20 and ERC-2222 token standards. MPL tokens are used for governance, allowing holders to vote on protocol upgrades and changes. [1] [4]
Allocation
Maple's total supply was capped at 10 million MPL tokens, with no plans for additional token creation. Of this supply, 5% was distributed through Balancer's liquidity bootstrapping pool. Currently, 7.83 million MPL tokens are in circulation, accounting for 78.3% of the total supply. The Token Generation Event took place on April 28, 2021. [2]
SYRUP Tokenomics
The SYRUP tokenomics are designed to incentivize participation and align the interests of stakeholders within the Maple Finance ecosystem. SYRUP tokens are used for governance, allowing holders to vote on protocol upgrades and changes. They also play a role in the distribution of fees and rewards within the platform, ensuring that active participants are compensated for their contributions. [2]
MPL to SYRUP Token Conversion
MIP-010 proposes the launch of the SYRUP token, allowing MPL holders to convert 1 MPL to 100 SYRUP. This conversion aims to make the governance token more accessible to new community members. The proposal includes the introduction of SYRUP staking, enabling stSYRUP holders to actively participate in the Maple platform. The conversion is expected to accelerate the distribution of SYRUP tokens without diluting existing holders. The technical transition involves minting approximately 1.15 billion SYRUP tokens and deploying a Migrator contract for conversion. MPL holders can convert their tokens via the Syrup webapp, following prompts to exchange MPL for SYRUP at the specified ratio. [3] [5]
Partnerships
Ozean, a blockchain focused on real-world asset (RWA) yield and developed by Clearpool, has partnered with Maple Finance to expand institutional access to DeFi-based yield opportunities. As part of this collaboration, SyrupUSDC—a yield-generating stablecoin issued through Maple's Syrup protocol—will be integrated into Ozean’s Pre-Deposit Campaign and its first Exchange-Traded Product (ETP), known as Port. This initiative combines Maple’s lending infrastructure with Ozean’s institutional on-chain vault framework to offer diversified and compliant yield exposure. Ozean operates as an RWA-focused Layer 2 network built on the OP Stack, aiming to streamline RWA access and bridge traditional finance with DeFi through regulatory-aligned infrastructure. [7] [8]
OAK Research has joined the Maple Ambassador Program to provide ongoing coverage of the Maple protocol. Through this collaboration, OAK Research will publish reports, analysis, and research focused on the development and performance of Maple and its associated platforms, including Syrup. The initiative supports transparency and aims to offer insight into the protocol’s evolution for the broader DeFi community. [9]
