Launch & Conversion Overview
The launch of the SYRUP token is a major milestone in the evolution of the Maple ecosystem. The protocol has exhibited remarkable growth over the past year and solidified its reputation as DeFi’s institutional lender.
We are also excited to introduce SYRUP staking, enabling our community to share in the growth of Maple as it transforms institutional capital markets.
In the first 90 days, 5,000,000 SYRUP will be distributed to stakers.
The token conversion and launch of staking will commence on 13th of November at 3PM UTC.
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.
Background
The SYRUP Staking program (established November 2024) allows SYRUP holders to share in the growth of the Maple and Syrup ecosystems. Stake SYRUP into a Maple owned and audited smart contract and receive stSYRUP. stSYRUP is an ERC-20 token and accrues distributed rewards second-by-second. SYRUP staked into the stSYRUP contract is not used as a form of first-loss Pool Cover, lent out, or used by other contracts to earn yields.
FAQ
How long do I need to keep my SYRUP staked before I can withdraw it?
SYRUP can be unstaked at any time. There is no lockup period when staking SYRUP. When you unstake SYRUP, you immediately stop earning SYRUP rewards.
Do I have to claim my SYRUP rewards?
SYRUP staking rewards are earned directly to the balance of SYRUP you can withdraw. No claim is necessary, and all SYRUP rewards compound in your staked balance.
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