Glossary
Maple Finance
An institutional credit platform — KYC'd borrowers (market makers, funds, infrastructure firms) borrow USDC from on-chain pools managed by Pool Delegates.
Maple operates institutional credit pools where Pool Delegates underwrite KYC'd borrowers and lenders deposit USDC for fixed-term exposure. The model targets credit yield in the high single-digit to low double-digit APR range, sourced from real institutional borrowing demand.
Maple survived the 2022 credit cycle that took down several other DeFi credit platforms (Orthogonal, M11, Maven 11), thanks in part to its more conservative underwriting structure. SYRUP is the governance token following the 2024 protocol restructuring.