Drips Rewards
Drip Rewards Overview
The introduction of the SYRUP token enhances alignment between the Maple and Syrup ecosystems and enables the protocol to capture value from institutional credit markets through DeFi. The Drips Rewards Program is an innovative rewards program that enables users to earn SYRUP by creating rewards for early participation and long-term commitment.
Each earning period for earning rewards is known as a Season, each lasting one month. Users accumulate Drips on a daily basis, with the base rate established as 1 Drip per 1 USDC per day. Users can then perform actions that will increase this base rate, such as depositing into Syrup using one of our wallet integration partners or leveraging syrupUSDC throughout DeFi. These small actions translate directly into boosted rewards for users.
In addition to these incentives and enhancements, depositors can also boost their Drip rewards by taking a more substantial stake in the Syrup ecosystem:
A 3-month capital commitment to the Syrup platform will earn a 1.5x multiplier on the user’s base rate.
A 6-month capital commitment would ensure a 3x multiplier on the user’s base rate.
These Boosts are designed to reward substantial actions that support the long term growth of Syrup. Boosts can also be compounded by participating in more than one incentivized activity.
Drips Claiming
The Drips claiming schedule is released! SyrupFi users can now see exactly when they will be able to claim their $SYRUP tokens, earned with the Drips they collected. Drips recipients will be eligible to convert their Drips to SYRUP and staked SYRUP (stSYRUP).
The Drips campaign was launched as a way to incentivize early users to join and participate in the overall growth of Maple and SyrupFi. It has been a massive success with more than 250M+ in TVL within a couple of months and integrations with the largest DeFi players including OKX, Pendle and Ether.fi.
All SyrupFi users qualify for Drips and can see their current Drips allocation, broken down per season, on syrup.fi/drips. The Pendle and OKX Drips are available for all users to see now as well!
Each new claim window opens on the 18th at 12 PM UTC and closes on the 18th of the following month at 3 AM UTC.
SyrupFi Season 1, 2 and 3 participants were able to start claiming their $SYRUP tokens from Drips on December 18th at 12pm UTC on syrup.fi/drips.
For seasons 4-7, users could start claiming â…“ of their rewards on February 18 while the remaining â…” will unlock on March 18.
For seasons 8-10, users will be able to claim their rewards in full the month following the start of the season.
Users can see the exact schedule for when their Drips unlock in the table below:
Season 1
July 2024
18 DEC 2024
18 JAN 2025
18 FEB 2025
Season 2
August 2024
18 DEC 2024
18 JAN 2025
18 FEB 2025
Season 3
September 2024
18 DEC 2024
18 JAN 2025
18 FEB 2025
Season 4
October 2024
18 FEB 2025
18 MAR 2025
N/A
Season 5
November 2024
18 FEB 2025
18 MAR 2025
N/A
Season 6
December 2024
18 FEB 2025
18 MAR 2025
N/A
Season 7
January 2025
18 FEB 2025
18 MAR 2025
N/A
Season 8
February 2025
18 MAR 2025
N/A
N/A
Season 9
March 2025
18 APR 2025
N/A
N/A
Season 10
April 2025
18 MAY 2025
N/A
N/A
The $SYRUP tokens unlock either in batches or in full depending on the season. Unlocks are always at 12pm UTC on the dates referred to in the table above.
Once the tokens are unlocked, they will be instantly claimable without any vesting, including for everyone who has committed their deposits. Only the tokens earned during the specified Drips season will unlock. All subsequent SYRUP earned from Drips will unlock at the later dates for those respective seasons except for seasons 8-10 where rewards are unlocked in full the following month.
Please note that the tokens are only claimable until the next claim date starts. As an example, for Drips season one, you were be able to claim the first third of the allocated SYRUP tokens between the 18th of December at 12pm UTC and the 18th of January at 12pm UTC. Unclaimed tokens are returned to the treasury.
SYRUP tokens when claimed can automatically be staked, which will have users participate in the growth of Maple and SyrupFi.
Please only claim on syrup.fi/drips. Don't engage with any other links. Feel free to ask any questions in https://t.me/maplefinance.
In case you want to stay up-to-date on the latest for Drips claiming, join the channel here: https://t.me/+zvAVuclP1t5mMTIx
FAQ
1. What is the Drips campaign?
The Drips campaign incentivizes early users to join and contribute to the growth of Maple and SyrupFi. It has successfully garnered over $250M in TVL and collaborations with DeFi leaders like OKX, Pendle, and Ether.fi.
2. Who qualifies for Drips rewards?
All SyrupFi users qualify for Drips rewards. Users can view their current allocation and breakdown by season on syrup.fi/drips.
3. When can I start claiming my $SYRUP tokens?
Claim dates vary by season. Refer to the tables above for your specific claim dates.
4. What happens if I don’t claim my tokens in time?
Unclaimed tokens will be returned to the treasury after the claim period ends.
5. Are there any vesting periods for claimed tokens?
No, once tokens are unlocked, they are instantly claimable without any vesting.
6. Can I stake my $SYRUP tokens after claiming?
Yes, claimed $SYRUP tokens can be staked to participate in the growth of Maple and SyrupFi.
7. How do I claim my tokens safely?
Only claim your tokens through syrup.fi/drips. Avoid engaging with any other links to protect your assets.
8. Where can I ask questions or stay updated?
Join our Telegram group at https://t.me/maplefinance for questions and updates.
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