MPL to SYRUP Conversion
Converting MPL to SYRUP: A Guide for MPL Holders
Background
In 2023, the Maple Community approved MIP-009, and the SYRUP token will adhere to all of the governance and tokenomics that was agreed in that proposal. When factoring in the conversion and the agreed token inflation schedule and issuance, the total supply of SYRUP tokens will be 1,228,740,800 in 2026. All issuance from the initial schedule will also be minted as SYRUP tokens. Details on the token inflation schedule and issuance can be found in MIP-009.
Details on the conversion can be found in MIP-010, which was voted into place by the community in September 2024. Following the approval of MIP-010, existing MPL holders will be able to convert 1 MPL into 100 SYRUP tokens. This process will unify the broader Maple ecosystem, align long-term interests, and increase token utility - including SYRUP staking. During the conversion, there is no dilution for pre-existing MPL token holders.
Conversion Process
Maple is coordinating the transition of MPL to SYRUP in a few ways.
MPL and xMPL holders can convert their tokens easily via a conversion page which will be made available at syrup.fi/convert. This will be the only destination for conversion.
Maple is making arrangements with major exchanges so that MPL tokens on the exchange will automatically be converted into SYRUP, with no action required from holders. The exception was Coinbase, which this was not possible for.
Conversion will be possible until the 30th of April 2025 (following the approval of MIP-011), but encouraged as soon as possible so holders can access the value and utility of SYRUP. After the 30th of April, SYRUP and stSYRUP will be the sole tokens within the Maple ecosystem that accrue all of the value and it will be impossible for MPL or xMPL holders to convert over.
Users should also always double-check transaction details before confirming, and ensure they’re interacting with the official Syrup webapp to avoid potential scams. For more information, explore official Maple resources and trusted third-party data dashboards.
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