While the broader DeFi lending market contracted 29% this year, @Maple Finance Official loan book grew.
Q3 Highlights: $4.8B Assets Under Management$1.67B loans outstanding (+12% YoY) syrupUSD outperformed major peers by 1.26% over the last 30 days
Buybacks doubled in September Protocol revenue topped $1.5M, triggering a higher buyback allocation (20% under MIP-021). The SYRUP Strategic Fund bought 1.37M $SYRUP roughly double August bringing Q3 buybacks to 2.9M SYRUP. Other updates: Partnered with IRACE Digital Bank for institutional fiat settlement Brand refresh focused on “putting capital to work, onchain”
Sid’s view: Banks will hold less idle cash as tokenized credit with clear terms and yield takes share
While DeFi lending contracted ~29% this year, Maple’s loan book grew 3% and its share of DeFi loans outstanding reached 17%. September monthly revenue crossed $1.5M.
First full quarter of rules-based SYRUP buybacks under MIP-021: • Jul: $1.37M rev → 0.85M SYRUP (10%) • Aug: $1.47M → 0.68M (10%) • Sep: $1.57M → 1.37M (20%) Q3 total: 2.9M $SYRUP These are protocol buybacks, not dividends or guaranteed returns.
syrupUSDC yielded 5.0% and syrupUSDT 4.4% over the past 30 days averaging ~126 bps above major peers tracked (up from 110 bps last quarter). Yield comes from interest paid by institutional borrowers Maple underwrites (variable, not guaranteed).
Q3 product highlights: • syrupUSDG live on Arbitrum, Ink, and Solana • syrupUSDC launched on Arc (day-one) • New allocation strategies with separate risk limits • Robinhood Earn passed $136M
Growth focus: distribution partners + new credit strategies (fintech receivables, rated securities), all under the same underwriting standards.X
Henri Arslanian (fireside with Sid): institutional adoption is still held back by career risk on investment committees it recedes only with time and broader adoption.
Replay of the call and details on the next AMA (Nov 11) are available via Maple’s official channels.
A thank you to all the CW Community Award winners. You all have a small bag of $ONDO waiting for you on Binance! Paying the awards on Binance through chat makes this a 2 minute process. Easy.
Community > Everything.
From tough @Maple Finance Official questions, to moderating chat, to interacting on our livestreams, we see you.
Another healthy month for revenue, exceeding $1.5m for the first time since April 2026.
May $1.22m Jun $1.29m 5.74% Jul $1.37m 6.2% Aug $1.47m 7.3% Sep $1.57m 6.8%
$SYRUP was 17.3c at the end of August and closed September at 22.4c, a 29.5% increase. The 2026 low was 12.1c in June, when the market bottomed. Big things are coming in Q4 2026, with a rebrand and the three new investment strategies.