syrupUSDT

Maple Finance: SyrupUSDT Institutional Yield Pool

Value outstanding: $228.3M
24D change: -17.9%
Yield · 30-day trailing APY: 12.80%
NAV: 1.0000
Management fees: 0.50%
Minimum: $50K
Redemption: Daily
Launched: 10 Jan 2024

Field coverage 92%Primary-source or on-chain verified 100% of tracked metrics0/2 source documents analyst-verifiedLast reconciled 13 Nov 2026

Overview

What this product is

Institutional private credit pool on maple-finance providing senior-secured structured debt exposure backed by Secured overcollateralized loans to vetted crypto institutional borrowers.

Underlying asset: Secured overcollateralized loans to vetted crypto institutional borrowers
Asset class: Private Credit
Product structure: Debt Instrument
Legal structure: BVI Professional Fund
Issuer jurisdiction: Switzerland
Fund domicile: British Virgin Islands
Base currency: USD
Launched: 10 Jan 2024

Peer set

Comparable products

Products in the same asset class and currency. Yields are quoted on different bases, so check each one before comparing.


JAAA	6.85%	0.25%	$100K	$2.77B
syrupUSDC	11.50%	1.00%	$0	$752.3M
ARES-PC	9.00%	1.50%	$25K	$500M
syrupUSDTthis product	12.80%	0.50%	$50K	$228.3M
HELOC	8.00%	1.00%	$50K	$150M
B-PCOF	8.92%	1.60%	$100K	$140M
CTAC	9.12%	1.85%	$25K	$118M

Issuer

Who runs it

Maple Finance

British Virgin Islands

An institutional capital network providing undercollateralized loans for institutional borrowers.

Portfolio

Composition

Secured overcollateralized loans to vetted crypto institutional borrowers92.0%
USDC Liquidity & First-Loss Reserve Buffer8.0%

Weighted average maturity

90 days

On-chain history begins 21 Oct 2026 and covers 24 days of readings.

AUM

$228.3M

Assets under management

-17.9% over 24 days held

Yield

12.80%

Yield history. 30-day trailing APY

No on-chain history recorded for this series yet.

NAV

1.0000

NAV per token (stable $1.00)

This fund maintains a constant NAV of USD 1.00 and distributes yield through token supply rather than price. NAV history is therefore flat by construction; monitor supply and yield instead.

-17.9% over 24 days held

Movement

Recent daily movement

Net movement -$49.9MOver 24 daysChange -17.9%


13 Nov 2026	$228.3M	-$6.2M	-2.6%
12 Nov 2026	$234.5M	-$3.1M	-1.3%
11 Nov 2026	$237.6M	$357.4K	+0.2%
10 Nov 2026	$237.3M	-$1.7M	-0.7%
09 Nov 2026	$239M	-$350.3K	-0.1%
08 Nov 2026	$239.3M	-$3.2M	-1.3%
07 Nov 2026	$242.5M	-$5.5M	-2.2%
06 Nov 2026	$248.1M	-$1.4M	-0.6%
05 Nov 2026	$249.4M	-$1.3M	-0.5%
04 Nov 2026	$250.7M	-$1.4M	-0.5%

Holdings

Disclosure

Underlying portfolio

				Share
Secured overcollateralized loans to vetted crypto institutional borrowers	Private loans	-	92.0%
USDC Liquidity & First-Loss Reserve Buffer	Cash & equivalents	-	8.0%

Exposure

What you actually own

Economic exposure is to secured overcollateralized loans to vetted crypto institutional borrowers. Weighted average maturity is 90 days, which sets how quickly the portfolio reprices as rates move.

Private loans: 92.0%
Cash & equivalents: 8.0%

Redemption

Terms

Contractual terms

Redemption frequency: Daily
Dealing cut-off: 16:00 UTC daily
Settlement: T+1 via USDC
Redemption fee: 0.10%
Secondary venues: Uniswap v3 Protocol
Transfer restrictions: Transfers restricted to KYC-approved institutional addresses.

These are contractual terms from the offering documents. Observed settlement performance and any discretionary accommodation by the manager are explicitly out of scope.

Assessment

Liquidity profile

Primary redemption

Daily · T+1 via USDC

Off-hours exit

Constrained to 16:00 UTC daily

Secondary market

Uniswap v3 Protocol

Transferability

Allow-listed wallets only

Exit fee

0.10% on redemption

Relationship graph

Operational dependency network

Every firm and system this product relies on. Select any of them to open its profile.

Every counterparty and system this product depends on to function. Each card links to that entity's own profile: the question worth asking of each is what happens to your position if it stops working.

Open in Ecosystem Graph →

Issuance & legal

Who is legally on the hook for this product.

Issued byMapleBritish Virgin Islandsderived Administered byMapleBritish Virgin Islandsderived

Custody

Where the backing assets actually sit.

Custodied bySmart ContractsDecentralizedderived

Markets & settlement

Where it trades and how value moves between venues and chains.

Deployed onEthereumpublic l1 · 100% of supplyderived Deployed onPolygon PoSpublic l2 · 20% of supplyderived

Look-through

Other tracked products this one holds.

HoldsUSD CoinUSDC · 8% of portfolioderived

Edges marked derived are inferred from a structured field on this product that carries its own source; they are not independent confirmation of it. Edges without that mark were sourced separately from a disclosure naming both parties.

Deployments

Registry

Networks and contracts

		Contract / asset id
EthereumPrimary	public l1	0x356B8d89c1…74d5BA7D	100.0%
Polygon PoS	public l2		20.0%

Counterparties

Service providers

If any of these has a problem, this product is affected.

Custodian: Smart Contracts· Decentralized
Administrator: Maple· British Virgin Islands
Transfer agent: Not disclosed
Tokenization platform: Maple· British Virgin Islands
Oracle / attestation: Not disclosed

Access

Classification

Who may hold this

RetailNot eligible

AccreditedEligible

ProfessionalNot eligible

InstitutionalEligible

Minimum investment: $50,000
Allow-list required: Yes
Transfer restrictions: Transfers restricted to KYC-approved institutional addresses.

Geography

Where it is available

United StatesNot available

European UnionNot available

SingaporeAvailable

United KingdomAvailable

SwitzerlandAvailable

Hong Kong SARAvailable

United Arab EmiratesAvailable

Explicit prohibitions

−United States
−Cuba
−Iran
−North Korea
−Syria

Availability is limited to the jurisdictions in the coverage boundary. Absence here means not covered, not necessarily prohibited. This is a classification of the offering documents, not legal advice.

Structure

Legal and regulatory

Legal structure: BVI Professional Fund
Product structure: Debt Instrument
Fund domicile: British Virgin Islands
Issuer jurisdiction: Switzerland
Transfer agent: Not disclosed

The domicile of the fund and the jurisdiction of its manager are frequently different. Both are recorded separately because they drive different questions: tax and insolvency follow the domicile, supervision follows the manager.

Source documents

Offering documentation

The documents behind the figures on this page. Anything marked verified has been checked by an analyst.

Credit Agreement & Pool Termsterms · 01 Jun 2024Queued↗Borrower Underwriting Due Diligence Reportfactsheet · 01 Jun 2024Queued↗

On-chain activity

Daily value outstanding

Value outstanding as read from the token contracts each day, and the movement between readings. Mints and redemptions are not separable on-chain, so this is the net of both, not gross issuance.

Net movement -$49.9MOver 24 daysChange -17.9%


13 Nov 2026	$228.3M	-$6.2M	-2.6%
12 Nov 2026	$234.5M	-$3.1M	-1.3%
11 Nov 2026	$237.6M	$357.4K	+0.2%
10 Nov 2026	$237.3M	-$1.7M	-0.7%
09 Nov 2026	$239M	-$350.3K	-0.1%
08 Nov 2026	$239.3M	-$3.2M	-1.3%
07 Nov 2026	$242.5M	-$5.5M	-2.2%
06 Nov 2026	$248.1M	-$1.4M	-0.6%
05 Nov 2026	$249.4M	-$1.3M	-0.5%
04 Nov 2026	$250.7M	-$1.4M	-0.5%
03 Nov 2026	$252.1M	-$6.9M	-2.7%
02 Nov 2026	$259M	-$698K	-0.3%
01 Nov 2026	$259.7M	$538.9K	+0.2%
31 Oct 2026	$259.2M	$79.2K	+0.0%
30 Oct 2026	$259.1M	-$18.4M	-6.6%
29 Oct 2026	$277.5M	-$2.1M	-0.8%
28 Oct 2026	$279.6M	$43.3K	+0.0%
27 Oct 2026	$279.6M	$90K	+0.0%
26 Oct 2026	$279.5M	-$208.7K	-0.1%
25 Oct 2026	$279.7M	-$6.4M	-2.2%
24 Oct 2026	$286.1M	-$902.9K	-0.3%
23 Oct 2026	$287M	$1.9M	+0.7%
22 Oct 2026	$285.1M	$6.9M	+2.5%
21 Oct 2026	$278.2M	-	-

Related intelligence

2 events reference this product

10 Nov 2026Capital

Maple’s SYRUP Nearly Halves as Lending Assets Shrink

Maple Finance's SYRUP and underlying lending assets have experienced a significant contraction as on-chain private credit demand and liquidity shrink.

The contraction of Maple's SYRUP assets highlights the cyclical nature of on-chain private credit demand and risk appetite among institutional allocators seeking yield outside of T-bills. This shrinkage underscores structural concentration risks in decentralized credit platforms when macro yield spreads compress or borrowers deleverage.

31 Oct 2026Capital

225 Million XRP Back $152 Million in Loans as December Repayment Deadlines Approach - CryptoRank

A report tracking $152 million in institutional loans backed by 225 million XRP as approaching December repayment deadlines interact with private credit protocols.

The looming repayment deadline for $152 million in loans collateralized by volatile crypto assets tests the liquidation mechanics and over-collateralization safeguards of institutional private credit pools like Maple. A failure to roll over or settle these positions cleanly risks triggering cascading liquidations, exposing lenders to asset-liability mismatches and forcing stricter collateral haircuts across crypto-native credit markets.