What is Syrup (SYRUP)?

Syrup (SYRUP) is an ERC-20 token created to replace MPL as the native asset of the Maple protocol. Its launch accompanies the protocol’s transition to a more modular, flexible, and on-chain governed architecture. The token contract is based on a customised ERC-20 implementation, deployed via a NonTransparentProxy, enabling future upgrades controlled by governance. SYRUP functions as a unit of account, governance token, and revenue distribution mechanism. Its minting, permissions, and supply control are managed through authorised modules, each assigned specific roles such as recapitalisation, emergency action, or migration. The initial distribution includes a one-time mint of 10% of the total supply to the treasury and 10 million SYRUP tokens allocated to the Migrator contract, enabling a 1:1 conversion from MPL to SYRUP.

What is Syrup (SYRUP) used for?

The SYRUP token has multiple functions within the Maple ecosystem: - **Governance**: Serves as the primary asset for proposals and decisions affecting protocol parameters and smart contracts. - **Revenue distribution**: The protocol collects fees (e.g., `managementFeeRate`, `platformServiceFee`, and `delegateServiceFee`) in stablecoins, which are directed to the SYRUP Treasury. - **Scheduled issuance**: Through the `RecapitalizationModule`, SYRUP can be issued over time via predefined issuance windows. Each window defines an issuance rate (tokens per second), and the structure is linked, allowing future governance to extend or replace it. - **Security mechanisms**: Modules like the `EmergencyModule` enable exceptional actions, such as minting or burning tokens in response to critical events, always under the control of the Governor. - **Pool integration**: SYRUP is central to the creation and operation of liquidity pools, permission controls, and withdrawal cycle configuration.

Who created Syrup (SYRUP)?

Syrup (SYRUP) was developed by the team at Maple Finance, co-founded by Sidney Powell and Joe Flanagan in 2019. The token's design reflects their combined expertise in traditional finance and technology, aiming to modernise capital markets through blockchain-based lending. **Sidney Powell** is the CEO and co-founder of Maple Finance. He has a background in debt capital markets and institutional banking. Before founding Maple, Powell worked at National Australia Bank, where he was involved in over $3 billion of corporate bond issuance and managed a $200 million bond funding programme. He also served as Treasurer at Angle Finance, a non-bank asset finance company in Australia. Powell holds a Bachelor of Finance and Bachelor of Laws from the University of Adelaide and completed a Bachelor of Business Administration in International Finance at HEC Montréal. **Joe Flanagan**, the co-founder of Maple Finance, has a background in financial management consulting. He previously worked as a Chief Financial Officer for a listed company in Australia and has experience at PricewaterhouseCoopers (PwC). Their combined experience in traditional finance and business strategy was instrumental in the creation of Maple and the development of its updated token, SYRUP.

Migration from MPL to SYRUP

In 2023, Maple Finance initiated a governance-approved token migration from MPL to SYRUP as part of a broader evolution in protocol governance and utility. Under proposals MIP-009 and MIP-010, MPL and xMPL holders were given the opportunity to convert their tokens to SYRUP at a fixed rate of 1 MPL to 100 SYRUP. The primary conversion window closed on April 30, 2025, with a final 48-hour extension granted under MIP-017. After this period, all unconverted MPL was considered unclaimed, and an equivalent amount of SYRUP was minted into the Syrup Strategic Fund to support future ecosystem initiatives. MPL and xMPL tokens are now obsolete, with SYRUP and stSYRUP serving as the sole governance and utility tokens in the Maple ecosystem.

Syrup (SYRUP) 시장

#	금융상품	거래소	벤치마크 점수	가격	24시간 변동	24시간 거래량	24시간 거래	24시간 시가	24시간 고가
1	SYRUP-USDT SYRUPUSDT	binance	AA	0.1755USDT	0,29%	4.178.585,60SYRUP	11.781	0.1750USDT	0.1779USDT
2	SYRUP-USDC SYRUPUSDC	binance	AA	0.1753USDC	0,34%	2.684.641,30SYRUP	7229	0.1747USDC	0.1777USDC
3	SYRUP-USDT SYRUP_USDT	whitebit	BB	0.1754USDT	0,40%	2.588.770,20SYRUP	11.525	0.1747USDT	0.1784USDT
4	SYRUP-USD SYRUP-USD	coinbase	AA	0.1751USD	0,29%	2.366.690,70SYRUP	4277	0.1746USD	0.1775USD
5	SYRUP-USD SYRUPUSD	kraken	AA	0.1751USD	0,29%	1.198.693,91SYRUP	1949	0.1746USD	0.1774USD
6	SYRUP-USDC SYRUP_USDC	whitebit	BB	0.1748USDC	0,29%	620.480,40SYRUP	772	0.1743USDC	0.1784USDC
7	SYRUP-USDT SYRUPUSDT_SPBL	bitget	BB	0.1754USDT	0,17%	371.922,15SYRUP	481	0.1751USDT	0.1779USDT
8	SYRUP-USDT SYRUP_USDT	gateio	A	0.1755USDT	0,34%	293.180,57SYRUP	419	0.1749USDT	0.1778USDT
9	SYRUP-TRY SYRUPTRY	binance	AA	8,72TRY	0,63%	335.979,40SYRUP	528	8,67TRY	8,83TRY
10	SYRUP-USDT SYRUP-USDT	kucoin	BB	0.1749USDT	0,00%	218.487,10SYRUP	243	0.1749USDT	0.1779USDT
11	SYRUP-USD syrupusd	bitstamp	AA	0.1752USD	0,52%	212.297,83SYRUP	99	0.1743USD	0.1769USD
12	SYRUP-EUR SYRUPEUR	kraken	AA	0.1564EUR	-0,01%	105.350,63SYRUP	110	0.1564EUR	0.1587EUR
13	SYRUP-EUR syrupeur	bitstamp	AA	0.1581EUR	1,08%	3250,00SYRUP	2	0.1564EUR	0.1581EUR
14	SYRUP-USD SYRUP_USD	cryptodotcom	AA	0.1800USD	0,00%	0SYRUP	0	0.1800USD	0.1800USD
15	SYRUP-EUR SYRUP-EUR	bitvavo	B	0.1573EUR	0,64%	792.940,97SYRUP	2106	0.1563EUR	0.1592EUR
16	SYRUP-USDT SYRUPUSDT	toobit	C	0.1755USDT	0,34%	776.802,20SYRUP	6833	0.1749USDT	0.1779USDT
17	SYRUP-KRW KRW-SYRUP	upbit	B	235,00KRW	0,86%	542.989,07SYRUP	218	233,00KRW	237,00KRW
18	SYRUP-USDT SYRUPUSDT	bitrue	D	0.1755USDT	0,34%	547.419,63SYRUP	5231	0.1749USDT	0.1779USDT
19	SYRUP-USDT SYRUP_USDT	bitunix	C	0.1754USDT	0,29%	429.660,20SYRUP	7135	0.1749USDT	0.1779USDT
20	SYRUP-USDT syrup_usdt	lbank	C	0.1755USDT	0,17%	406.859,35SYRUP	4823	0.1752USDT	0.1779USDT
21	SYRUP-USDT SYRUPUSDT	mexc	C	0.1754USDT	0,24%	349.460,02SYRUP	3466	0.1750USDT	0.1779USDT
22	SYRUP-USDT SYRUP-USDT	bingx	D	0.1754USDT	0,24%	319.078,93SYRUP	7149	0.1750USDT	0.1780USDT
23	SYRUP-USDC SYRUPUSDC	mexc	C	0.1753USDC	0,34%	310.512,31SYRUP	2986	0.1747USDC	0.1776USDC
24	SYRUP-USDT SYRUP_USDT	bydfi	-	0.1754USDT	0,24%	304.897,62SYRUP	3022	0.1750USDT	0.1778USDT
25	SYRUP-USDT syrup_usdt	digifinex	D	0.1756USDT	0,40%	117.467,94SYRUP	4680	0.1749USDT	0.1780USDT
26	SYRUP-EUR SYRUPEUR	bit2me	B	0.1563EUR	-0,03%	105.350,63SYRUP	110	0.1564EUR	0.1587EUR
27	SYRUP-KRW SYRUP_KRW	bithumbkorea	-	234,00KRW	0,86%	102.088,53SYRUP	85	232,00KRW	236,00KRW
28	SYRUP-USDT syrupusdt	huobipro	C	0.1752USDT	0,40%	52.023,19SYRUP	156	0.1744USDT	0.1776USDT
29	SYRUP-USD SYRUPUSD	edxmarkets	C	0.1749USD	0,48%	28.460,67SYRUP	11	0.1741USD	0.1771USD
30	SYRUP-USDT SYRUP_USDT	cryptology	D	0.1754USDT	0,20%	12.533,67SYRUP	1229	0.1751USDT	0.1779USDT
31	SYRUP-IDR syrupidr	indodax	E	3274,00IDR	2,31%	3866,57SYRUP	32	3200,00IDR	3474,00IDR
32	SYRUP-BRL SYRUP-BRL	mercadobtc	C	0.9260BRL	-2,53%	2748,99SYRUP	11	0.9500BRL	0.9500BRL
33	SYRUP-KRW syrup_krw	korbit	C	241,60KRW	0,00%	0SYRUP	0	241,60KRW	241,60KRW
34	SYRUP-INR SYRUPINR	coindcx	-	17,95INR	-0,59%	181,51SYRUP	9	18,06INR	18,17INR
35	SYRUP-BTC BTC-SYRUP	upbit	B	0.0₅3070BTC	0,00%	0SYRUP	0	0.0₅3070BTC	0.0₅3070BTC
36	SYRUP-KRW SYRUP_KRW	coinone	C	236,60KRW	0,00%	0SYRUP	0	236,60KRW	236,60KRW
37	SYRUP-USDT SYRUP_USDT	poloniex	C	0.1056USDT	0,00%	0SYRUP	0	0.1056USDT	0.1056USDT
38	SYRUP-USDT SYRUPUSDT	hitbtc	E	0.2340USDT	0,00%	0SYRUP	0	0.2340USDT	0.2340USDT
39	SYRUP-THB THB_SYRUP	bitkub	C	5,89THB	-1,01%	3,32SYRUP	1	5,95THB	5,95THB
40	SYRUP-USDT USDT-SYRUP	upbit	B	0.1750USDT	0,00%	0SYRUP	0	0.1750USDT	0.1750USDT