Utility and fundamentals of the token | $SYRUP
SYRUP is the governance and staking token within the Maple ecosystem, linked to its institutional lending platform and the Syrup.fi protocol. Holders can participate in governance, staking (convert to stSYRUP), and receive rewards and token buybacks.
MapleKit, recently launched, allows developers to easily integrate syrupUSDC (a yield-bearing stablecoin) into their applications, with an incentive fund of $250K, which could expand the adoption of SYRUP.
Technical aspects and risks
After reaching a peak close to $0.65, the token faced a technical rejection around $0.58, which may indicate an ongoing correction or consolidation period.
The FDV/TVL ratio is substantially below 1 (~0.24), suggesting that the fully diluted value of the token is backed by assets locked in the protocol.