Introduction to SYRUP

What is SYRUP?

SYRUP Token

In conjunction with the launch of the Syrup protocol, the SYRUP token will be launched in Q4 2024. SYRUP will govern the broader Maple ecosystem, and with staking, users can contribute to the Protocol and earn more SYRUP.

MPL to SYRUP Conversion

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 existing MPL token holders.

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.

Drip Rewards Eligibility

Drips recipients will be eligible to convert their Drips to SYRUP and staked SYRUP (stSYRUP).