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Maple Finance TVL More Than Doubles Leading Up to New Retail Arm

The DeFi protocol hit all-time high TVL and revenue in June.

By: Squiffs Loading...

Maple Finance TVL More Than Doubles Leading Up to New Retail Arm

Maple Finance’s total-value locked (TVL) growth is accelerating after the launch of its retail-focused product, Syrup.fi.

Maple’s TVL increased by 123% in the second quarter, hitting an all-time high of $230 million, according to Dune Analytics. The protocol’s quarterly revenue also jumped by 39%. Maple’s strong performance in June was capped off with the launch of Syrup.fi on June 25. The rest of the DeFi market increased by roughly 9% in the same time period, per DeFiLlama.

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Maple Monthly Revenue - Dune Analytics

The growth spurt is indicative of the demand for institutional-grade products leveraging high yield and real world assets (RWAs) as well as the anticipation for a retail extension of Maple Finance. The current structure is also well incentivized, with Maple users earning up to 23% on digital assets, and Syrup users accruing “Drips”, which are akin to points.

Co-founder Joe Flanagan told The Defiant, “Maple’s growth is attributed to our secured lending products that provide yield from loans to the largest institutions fully backed by digital assets.”

He continued, “we are providing the best risk-adjusted yield in the space and people are starting to recognize it.”

Maple Finance is a decentralized finance (DeFi) market designed to connect accredited investors with institutional lenders and borrowers. Maple is only available to users who have performed know-your customer checks and meet regulatory standards for the product.

Maple’s resurgence comes after its TVL got crushed during the FTX fallout, when $36 million worth of loans owed to Maple were defaulted on.

Retail-Focused Syrup.fi

In addition to its institutional product, the team has recently launched a retail-focused arm, dubbed Syrup.fi. The team is gradually rolling out Syrup.fi, which has accrued more than $13 million in TVL since its launch on June 25.

Syrup offers permissionless access to Maple’s yield, which is generated from collateralized lending to institutions. The product will also return composable LP tokens in the form of syrupUSDC, which can be utilized elsewhere in DeFi.

Syrup users will be accumulating Drips through Maple’s muti-season early access phase. Drips will entitle users to an allocation of Maple’s upcoming Syrup token, which is expected to migrate with their MPL token in Q4 2024.

High-Yield Secured Pool

Maple’s recent outperformance began prior to the launch of Syrup.fi, with the launch of its High Yield Secured pool, touting a target of 15% net APY.

The protocol’s secured lending arms are over-collateralized with liquid digital assets such as BTC, USDC, and ETH. Currently, Maple’s secured pools make up $147 million of its $230 million TVL.

Maple Cash is the platform’s RWA pool that is backed by short-dated U.S. Treasury bills. Maple Cash’s TVL has doubled since March, increasing to $20 million from $11 million, however it does still sit below its all-time high TVL of $31 million from October 2023.

Syrup’s season one will end on July 31, with the MPL token migration slated for Sept. 30.

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