#Syrup Syrup (SYRUP) is a token used in the Maple Finance platform. It governs the Maple ecosystem, and replaces the old MPL token. The Syrup token allows holders to participate in the development of the ecosystem and earn rewards.
In detail:
Maple Finance and SYRUP:
Maple Finance is a decentralized finance (DeFi) platform that offers loans to institutional and high-net-worth borrowers. The SYRUP token is a vital part of this ecosystem, providing governance and utility.
Conversion from MPL to SYRUP:
In 2023, the Maple community allows the conversion of MPL tokens to SYRUP. This conversion was done at a fixed rate, and now the MPL token has no governance or utility in the Maple protocol.
FUNCTIONS OF THE SYRUP:
Government: SYRUP token holders can vote on the development and policies of the Maple ecosystem.
utility: The SYRUP token can be used for a variety of tasks, such as participating in protocols, earning rewards, and taking part in other activities.
Staking: SYRUP tokens can also be converted into stSYRUP, allowing token holders to earn even more rewards.
$SYRUP