Maple Launches syrupUSDC on Coinbase’s Base Network
- Maple is extending its yield-bearing US dollar token, syrupUSDC, to Coinbase’s Base network.
- The launch aims to provide institutional-grade yield to a broader base of onchain users.
- A governance proposal is live on Aave for syrupUSDC to be used as collateral on the Aave V3 Base Instance.
- syrupUSDC will utilize Chainlink infrastructure for interoperability between Ethereum and Base.
- Loan books backing syrupUSDC are overcollateralized with real-time monitoring of collateral values.
This integration enhances the DeFi stack on Base, which is expanding beyond trading activities and into more durable financial products. Maple’s co-founder emphasized that syrupUSDC could serve as a core building block in this evolving ecosystem.
With the introduction of syrupUSDC, Maple aims to leverage the rapid growth of Base while providing sustainable yields through overcollateralized loans.(Source)
