syrupUSDC Expands to Coinbase's Base Network Amid Governance Push
Maple Finance launched its yield-bearing stablecoin, syrupUSDC, on Coinbase's Base network on January 22, 2026. The expansion marks a significant milestone in the protocol's multi-chain strategy, bringing institutional-grade yield opportunities to one of the fastest-growing Ethereum Layer 2 ecosystems.
Market Performance and Governance Developments
Maple's total deposits surpassed $4 billion on December 23, 2025, with syrupUSDC accounting for 63% ($2.66 billion) of that total, highlighting the significant role syrupUSDC plays in Maple's ecosystem and its strong growth in deposits, which increased by 701% year-to-date.
Concurrently, a governance proposal is live to list syrupUSDC as collateral on Aave's V3 Base instance. An Aave listing would significantly boost syrupUSDC's utility as composable DeFi collateral, driving further adoption and protocol revenue, which is directly linked to SYRUP's value through a 25% revenue allocation to token buybacks.
Strategic Governance Proposals
A proposal for the Atlas Edit Weekly Cycle, which includes an update to the Instance Financial CRR for Maple SyrupUSDC, began voting on January 12, 2026, and is set to conclude on January 15, 2026. This proposal is significant as it directly impacts the financial configuration and strategic allocation within the Spark Liquidity Layer, a platform where $50 million in USDC was previously allocated to Maple's syrupUSDC for off-chain lending, and the outcome of this vote will determine how syrupUSDC is managed within this layer, potentially influencing its stability and yield generation for users.
2026 Product Roadmap
On December 21, 2025, Maple announced plans to introduce "Builder Codes" in 2026, which will allow partners to autonomously integrate Maple products like syrupUSDC into mainstream platforms, aiming to boost syrupUSDC's adoption by simplifying its integration into existing DeFi infrastructure. Maple's co-founder also hinted at the release of "new syrup assets" in 2026, indicating a continued focus on expanding its product offerings.
Institutional Adoption Shift
Maple Finance founders revealed plans to shift their focus from Assets Under Management (AUM) growth to revenue generation in 2026, aiming to extend Maple's reach across new assets, partners, and channels within DeFi and into fintech applications.
Multi-Chain Infrastructure
In 2025, syrupUSDC and syrupUSDT expanded beyond Ethereum, with deployments on Solana, Plasma, Arbitrum, and Base, bringing Maple's yield-bearing mechanics to new ecosystems and unlocking integrations across the broader DeFi landscape.
Legal Developments
A Cayman Islands court granted an injunction blocking Maple Finance from launching its syrupBTC product, citing alleged breaches of confidentiality with partner Core Foundation.