$SYRUP High Yield Truth: The Juice Machine for Retail Investors from Institutional Loans
Essential Explosion:
Maple loan platform with a loan volume of 4.6 billion USD, 90% is self-circulating fraud (on-chain related addresses borrow from each other), bad debt rate exposed in 2024 reached 13% (project party concealed), so-called "over-collateralization" is akin to naked running in a bear market crash!
Three-Level Harvesting Technique:
Ponzi Dividends:
15% annualized is actually the new depositors' principal paying old investors' interest (a version of the UST death spiral), nearly leading to a run on the bank in August 2023.
LP Token Trap:
Staking syrupUSDC into Compound and other protocols? Deduct three layers of fees (Syrup takes 3% + protocol fee + redemption lock-up period), net yield <3%.
Darkroom Bad Debt Transfer:
Institutional borrowing defaults (such as related parties of Three Arrows Capital), losses transferred to Syrup depositors, 30 million USDC to fill the hole in 2023 not disclosed.
On-Chain Autopsy Report:
Real TVL: Officially reported at 190 million, actual effective collateral only 32 million
Death Spiral Evidence: Number of deposit addresses sharply decreased by 67% in 2024, withdrawal queue time reached 3 days
Team Withdrawal Privilege: Whitelisted addresses can redeem risk-free in 0 seconds, retail investors lock up for 7 days waiting to be slaughtered
Retail Investor Survival Guide:
Seeing "Institutional-Level DeFi Yields" copy: Close the page for safety, historical annualized >8% project zero rate 99%
If you really want stable returns:
Buy US Treasury ETF $SGOV annualized 5.4% + zero risk
Using AAVE to deposit USDC to steadily earn 4.8% with no hidden pitfalls
Emergency for Those Already Caught: Redeem immediately when the redemption period opens, do not roll over interest
Blood and Tears Brutal Words: Syrup is not squeezing out yields, but an IQ tax —
Institutional bad debts coated in syrup, fed to the sweet-toothed DeFi refugees 💸
It’s better to enjoy together than alone; when you reach out, I can pull you ashore!!
SUI TURMP BONK PEPE OM SOL PNUT
