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Maple
Maple is a decentralized lending protocol that earn yields from overcollateralized institutions.
- Documentation
- Auditors
- Please see our FAQ on experienced auditors
- Website
- Token: SYRUP
- Tags: Lending
- TVL: $2.2B (Rank #22)
- TVL Ranking by Lending: #7
- Blockchain: Ethereum, Solana
- Chain TVL
- Ethereum: $2.24B
- Solana: $0
- Code reviewed by several experienced auditors including Trail of Bits, code4rena and PeckShield
- Public team promotes accountability
- No documented protocol hacks since launch
- Latest protocol version launched in 2024; maturity over six months reduces technical risk as smart contracts are moderately battle-tested
- Top 20% by total value locked slightly reduces risk
- Multisig wallet controls protocol upgrades
- Multisig consists of at least 4 signers, which means the protocol is less susceptible to centralization risks
- No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
- Low voting power concentration reduces risk
- Robust controls to mitigate oracle price manipulation
- Cross-collateral markets are exposed to systemic risks as each asset creates incremental risks for the platform as a whole
- Solid controls in place to prevent risky borrowing
- No reserves or no stability module
What is Maple
Maple is a lending platform that brings traditional finance practices onto the blockchain. Instead of lending to anonymous users, Maple focuses on big institutions and companies that need capital. Lenders deposit assets like USDC or ETH into Maple pools, and those funds are used to issue loans to vetted borrowers. This setup combines onchain transparency with real-world credit expertise.
How Maple makes money
Maple earns fees when it creates and manages loans. Borrowers pay interest and small platform fees, and those payments keep the protocol running. If a borrower struggles, Maple can use collateral (like ETH or BTC) or legal processes to protect lenders as much as possible.
How you make money on Maple
As a lender, you earn interest by depositing into Maple’s lending pools. These pools fund short-term loans at fixed rates, giving you steady yields. You can choose safer pools backed only by ETH and BTC or higher-yield pools that use other digital assets. Maple also offers SyrupUSDC and SyrupUSDT, which let you access Maple’s lending income in a simple, tokenized way.
