$SYRUP

Syrup Token (SYRUP) is currently priced at $0.2414, with a 24-hour trading volume of $5.29 million and a market capitalization of $254.14 million. Here's what you need to know about Syrup Token:

*About Syrup Token*

- *Governance Token*: SYRUP is the governance token for Maple Finance's ecosystem, focusing on decentralized institutional lending.

- *Launched*: Syrup Token was launched on November 13, 2024, replacing the previous MPL token at a conversion rate of 1 MPL to 100 SYRUP.

- *Purpose*: SYRUP allows holders to participate in governance, earn rewards through staking, and access yields from overcollateralized loans to leading crypto-native institutions.

*Key Features*

- *Staking Rewards*: Holders can earn additional SYRUP tokens by staking their existing tokens, with an initial distribution of 5,000,000 SYRUP in the first 90 days.

- *Governance Participation*: SYRUP holders can vote on proposals shaping the future of the Maple and Syrup platforms.

- *Value Accrual*: Fees from lending operations are used to buy back SYRUP tokens, which are then distributed to stakers.

*Tokenomics*

- *Circulating Supply*: 1.07 billion SYRUP tokens are currently in circulation.

- *Max Supply*: The expected supply of SYRUP tokens will be 1,228,740,800 by September 2026.

- *Token Conversion*: Existing MPL holders can convert their tokens to SYRUP at a ratio of 1 MPL to 100 SYRUP.¹