syrupUSDC Expands to Coinbase's Base Network Amid Institutional Growth
Maple Finance extended its yield-bearing stablecoin syrupUSDC to Coinbase's Base network, bringing institutional credit directly into a fast-growing Ethereum layer-2 ecosystem. An Aave governance proposal is currently live to onboard syrupUSDC as collateral on the Aave V3 Base Instance.
Market Performance and Valuation
SyrupUSDC is trading at $1.15 USD with a 24-hour trading volume of $19,966,439 USD, up 0.12% in the last 24 hours. The token holds a market capitalization of $1,544,244,847 USD, ranking #8768 on CoinMarketCap.
Recent Governance Developments
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 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.
2025 Performance and Growth Metrics
On December 23, 2025, Maple's total deposits surpassed $4 billion, with syrupUSDC accounting for 63% ($2.66 billion) of that total, highlighting significant growth with deposits increasing by 701% year-to-date. SyrupUSDC drove Maple's 2025 growth, with AUM up 790% to $4.46B, revenue up 380% to $11.7M+, and SYRUP rising 125%.
Strategic Initiatives for 2026
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 adoption by simplifying integration into existing DeFi infrastructure. Maple's co-founder hinted at the release of "new syrup assets" in 2026, indicating a continued focus on expanding product offerings.
Maple is targeting $100M annual recurring revenue by end-2026, implying a ~3.3x increase from its December 2025 monthly revenue of $2.49M ($29.9M annualized).
DeFi Integration Expansion
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. Yield-bearing stablecoins syrupUSDC and syrupUSDT are now integrated with Aave, Pendle, and Kamino, supporting leveraged yield strategies and broadening protocol utility.
Ongoing Legal Challenges
Maple Finance is currently involved in a legal dispute with the Core Foundation, which has resulted in a Cayman Islands court injunction blocking Maple from launching its syrupBTC product.
Sources:
- https://www.tradingview.com/news/cointelegraph:1046b88bf094b:0-maple-brings-syrupusdc-to-base-targets-aave-v3-listing/
- https://coinmarketcap.com/currencies/syrup-usdc/
- https://messari.io/project/syrupusdc
- https://coinmarketcap.com/cmc-ai/maple-finance/latest-updates/
- https://maple.finance/insights/syrupusdc-and-syrupusdt-built-for-scale
- https://www.banklesstimes.com/articles/2025/12/25/maple-finance-syrup-advances-after-record-500m-loan-issuance/
- https://messari.io/project/syrup