Maple Finance Expands to Solana, Boosting Its Lending Services
maple Finance has taken a meaningful step by launching its yield-bearing stablecoin, syrupUSDC, on the Solana network. This expansion aims to provide Solana users with top-notch lending tools and steady returns. The move was announced on June 5 and comes with $500,000 in incentives, backed by $30 million in liquidity.
Users can now enjoy a fixed yield of about 6.5% on syrupUSDC, bridged from Ethereum. the cross-chain feature is thanks to Chainlink’s cross-chain interoperability protocol,which went live on Solana’s mainnet on May 19. The CCIP tool makes it safe and easy to transfer tokens between Ethereum and Solana.
KeySolana protocols like Kamino and Orca are on board. Kamino has added syrupUSDC to its lending platforms, liquidity vaults, and leverage pools. To sweeten the deal, Maple will offer weekly $15,000 rewards to users who supply USDC and USDG.
This expansion fits into Maple’s strategy to grow across high-liquidity chains. Solana, with over $11 billion in stablecoins, provides a solid base. Maple manages $1.9 billion in assets, and syrupUSDC’s supply is over $550 million.
Maple’s Solana launch follows its May announcement of a $2 billion Bitcoin-backed lending initiative with Cantor Fitzgerald. This move aims to integrate traditional finance with cryptocurrencies, positioning Maple as a leader in institutional defi.
As more lending platforms like margin.fi and Rain.fi join Solana, Maple’s entry brings much-needed strength to the ecosystem. With strong liquidity and strategic partnerships, Maple is set to play a major role in the future of crypto lending.
