$SYRUP Surges Over 100% in Minutes Amid Trading Frenzy

The $SYRUP token, native to Maple Finance’s DeFi lending platform, has captured significant attention in the past hour, experiencing a remarkable 100.56% surge in just 15 minutes. This sudden spike has propelled $SYRUP to an intraday high of $0.3079, up from a low of $0.1872, before stabilizing around $0.2110. 

This rapid ascent follows Maple Finance’s recent governance proposal to allocate 20% of its protocol revenue for buying back SYRUP tokens, which are then distributed to stakers. With an annual income of approximately $5 million from on-chain lending services, this buyback initiative aims to reward long-term participants and enhance token value. 

Additionally, the recent migration from the MPL token to $SYRUP, with a conversion ratio of 1 MPL to 100 SYRUP, has expanded token accessibility and utility within the DeFi ecosystem. 

The combination of strategic buybacks, staking rewards, and increased token utility has fueled investor enthusiasm, positioning SYRUP as a noteworthy asset in the DeFi space. 

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