M

Maple Finance

SYRUP/USD #175 Crypto
$0.1730+0.70%24h
24h Range
$0.1697$0.1774

SYRUP to USDT Converter

1 SYRUP = 0.173297 USDT · updated 06:22 UTC

Volume Bubbles Chart (1h)

Each 1-hour candle's volume is signed by its direction (up candles count as net buying, down candles as net selling) and drawn as a bubble at the closing price, green for buying and red for selling. Bubble size and colour intensity show how strong that flow is compared with the last 300 candles: the strongest 30% get full bubbles with their USD value, the rest stay as small dots. Unusually large bubbles flag aggressive buying or selling worth a closer look, often near breakouts, reversals or key levels.

Seasonal Chart

Plots one line per calendar year showing the % change since the start of that year, with the current year highlighted against up to four previous years. Lining the years up on the same calendar shows whether the price tends to rise or fall in the same months, helping you spot recurring seasonal patterns. Treat it as context rather than a forecast: past seasonality does not guarantee future moves.

Maple Finance Markets

Loading markets…

Maple Finance Historical Data

About Maple Finance (SYRUP)

Maple Finance (SYRUP) is the governance token of Maple, an on-chain lending platform. Maple lends to crypto-native institutions, such as trading firms, that post liquid crypto as collateral. SYRUP holders vote on how the protocol is run. The token replaced Maple's earlier MPL token in late 2024. FMchart shows SYRUP at a composite price, meaning one US dollar figure averaged from trading on several exchanges.

Institutional loans, open through DeFi

Maple works more like a credit desk than a typical DeFi app. Borrowers are vetted institutions, and loans are overcollateralized, so a borrower posts liquid crypto worth more than it borrows. Through syrupUSDC, syrupUSDT and syrupUSDG, anyone using DeFi can deposit stablecoins into these pools. Depositors get a yield-bearing token that represents their share. Each Syrup product runs through its own legal entity, kept separate from Maple's institutional pools. Futures basis trades and DeFi liquidity strategies also support the yield.

How MPL became SYRUP

Maple's first token was MPL. SYRUP replaced it and launched on November 13, 2024. Each MPL could be converted into 100 SYRUP, so existing holders were not diluted. The main conversion window closed on April 30, 2025, and a final 48-hour window ran in May 2025. Conversion was then permanently closed, and the SYRUP set aside for unconverted MPL went to the Syrup Strategic Fund. MPL and xMPL carry no voting rights or staking utility.

From staking rewards to rules-based buybacks

After launch, holders could stake SYRUP as stSYRUP for rewards paid from token emissions and, from 2025, from SYRUP bought back with protocol revenue. A governance proposal called MIP-019, approved in October 2025, ended staking rewards and directed 25% of ongoing protocol revenue to the Syrup Strategic Fund. In July 2026, holders approved MIP-021, which ties monthly SYRUP buybacks to a set share of protocol revenue that rises as revenue grows.

Two kinds of exposure

Depositors in Syrup products and holders of the SYRUP token face different risks. Depositors lend stablecoins and are exposed to borrower defaults and collateral shortfalls. SYRUP holders own a governance token whose price floats, and holding it gives no direct claim on the loans in Syrup pools. Both SYRUP and stSYRUP holders can vote, and stSYRUP can be unstaked at any time without limits or penalties, with earned rewards kept.

What could hurt SYRUP

SYRUP depends on Maple's lending business. If borrowers default, collateral falls faster than it can be sold, or demand for on-chain credit fades, revenue for buybacks shrinks. Smart contract bugs are another risk. Market data shows no fixed maximum supply, and governance can rewrite token rules, as it did when staking rewards ended in 2025. SYRUP's price also tends to move with the wider crypto market.

Sources: SYRUP token launch on November 13 (Maple Finance, October 2024), MPL to SYRUP conversion (Maple docs), SYRUP staking and MIP-019 (Maple docs), Maple Memo, July 2026: MIP-021 rules-based buyback (Maple Finance, July 2026), syrupUSDC/USDT introduction (Maple docs)

Last reviewed: Oct 8, 2026

Maple Finance (SYRUP) FAQ

What is Maple Finance (SYRUP)?

SYRUP is the governance token of Maple, a lending platform that makes overcollateralized loans to crypto-native institutions. Its Syrup products let DeFi users deposit stablecoins and earn yield from those loans. SYRUP replaced Maple's older MPL token in November 2024, and under MIP-021 a share of protocol revenue funds SYRUP buybacks.

What is syrupUSDC?

syrupUSDC is a yield-bearing token you receive when depositing USDC into Maple's Syrup pool. Its value grows as interest comes in from fixed-rate, overcollateralized loans to institutional borrowers. Similar versions exist for USDT and USDG. Holding syrupUSDC is different from holding SYRUP, which is the protocol's governance token.

How did MPL convert to SYRUP?

Each MPL converted into 100 SYRUP, a ratio chosen so holders kept the same share of supply. SYRUP launched on November 13, 2024, and the main MPL conversion window closed on April 30, 2025. A final 48-hour window followed in May 2025. According to Maple's documentation, MPL and xMPL no longer carry governance rights or staking utility.

What is the SYRUP price today?

SYRUP is changing hands near $0.173, according to FMchart's composite of several exchanges. Around $2.52M worth of SYRUP traded during the past 24 hours across the exchanges in FMchart's composite. Because the figure is a blended average, a single exchange's quote may differ slightly.

How many SYRUP tokens are there?

About 1,167,271,959 SYRUP are circulating, and market data lists no fixed maximum supply. At the current price, those tokens are worth roughly $202.0M, putting SYRUP at rank 175. The token launched in November 2024, when MPL holders began converting at 100 SYRUP per MPL.

What was SYRUP's highest price?

SYRUP set its record high of $0.6532 on Jun 25, 2025. Price Statistics also shows the token's all-time low and the percentage gap between today's price and each extreme. A peak shows only what buyers once paid at the busiest moment of demand.

How has SYRUP performed since FMchart started tracking it?

In FMchart's composite price history (since March 2025), SYRUP's strongest month was May 2025 (+122.6%) and its weakest was November 2025 (-37.3%). The Monthly Returns (USD) grid shows every month in between, and Annual Price (USD) Change sums up each calendar year. With a short record, a few big months weigh heavily.

Can you still stake SYRUP for rewards?

No. Staking rewards ended under MIP-019, a governance proposal approved in October 2025. Existing stSYRUP can be unstaked at any time without limits or penalties, and earned rewards are kept. Instead of paying stakers, Maple funds SYRUP buybacks with a set share of monthly protocol revenue under MIP-021, approved in July 2026.

What is MIP-021?

MIP-021 is a Maple governance proposal that SYRUP holders approved in July 2026. It makes buybacks rules-based: each month, a set share of protocol revenue goes to buying SYRUP, and that share rises as revenue grows. Under the rule, 10% of monthly revenue goes to buybacks when Maple earns under $1.5 million a month, rising to 30% above $2 million.

Is SYRUP a good investment?

That depends on each person's goals, and FMchart offers no recommendations. SYRUP's buybacks depend on Maple's lending revenue, which can drop if borrowers default or demand for credit weakens. Governance has already changed SYRUP's staking and buyback rules more than once. Like most crypto tokens, SYRUP is volatile.