Binance just listed $Syrup + $KMNO with seed tag.
Both are lending protocols that have grown a lot recently thanks to the expanding yield market.
$Syrup has made an epic comeback from maple by it's cDeFi design so I want to give some background info.
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A TLDR đ :
> Syrup is an institution facing lending market built by @maplefinance, USP are institutional custody and customized loans.
> $SyrupUSDC is the major product. It is the supplied token on Syrup backed by 170% collateral (87% BTC + 13% of other majors + alts).
> Average Yields is 10% (7% real + 3% points) at $650M AUM, outperforming Aave's at 3.3%. TVL is sitting at $1.2B, ~10x since Jan 2024.
> Revenues comes from 1.0-2.5% of platform loan interest, total revenue is ~$4M since syrup launch and it is growing MoM.
> Partnership including @sparkdotfi that staked $50M in $syrupUSDC for yield, and @BitwiseInvest for defi lending via maple.
> Buyback: 20% of Q1 2025 protocol revenues is used to buyback Syrup and give it back to stakers.
> Total supply is 1.23B token by 2026 (~$266M), with an annual emission of 5% from 2023.
> FDV is ranked 10th in lending category, right behind @eulerfinance but ~40% away from @0xfluid.
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As everyone knows, onchain lending has been growing since the end of 2023 with new players such as @MorphoLabs .
However, for the onchan lending market to grow even further, I agree with @glxyresearch that it depend on 3 key factors.
1) Expanding on chain yield opportunities
2) More institutional participation
3) Even better capital efficiency
To gain long term market share, Maple needs to establish a clear competitive moat in at least one of these factor, especially lending like @aave building it's own institutional facing product too etc.
Hope the infos help and DYOR. Here are the key supporters: @GLC_Research, @kenodnb, @SquirrelRWA .
