**Thesis on Maple Finance – RWA Sector**
The **$SYRUP** project, leveraging Maple Finance’s institutional-grade lending infrastructure, offers a unique **alpha opportunity** by bridging traditional finance with DeFi.
With **$2.12B in TVL**, supported by permissionless access to **high-yield, overcollateralized loans**, the protocol demonstrates strong market demand and proven execution.
Compared to competitors like **Ondo Finance**, $SYRUP’s **$460M FDV** appears **undervalued**—especially given its **95% circulating supply** and **monthly buybacks**, which help mitigate sell pressure.
Additional strengths include:
✅ **Institutional backing** from Cantor Fitzgerald
✅ **Zero defaults since 2022** (strong track record)
✅ **DeFi integrations** with Pendle & Balancer
✅ **Recent Binance listing** (boosting liquidity & visibility)
With potential **further CEX listings** on the horizon, $SYRUP is a **high-upside play** for investors bullish on **institutional DeFi adoption**.
