Onchain asset manager Maple is extending its yield-bearing US dollar token, syrupUSDC, to Coinbase’s Base network, plugging institutional credit directly into a fast‑growing Ethereum layer-2 ecosystem.
According to a Thursday release shared with Cointelegraph, the launch will provide the company with a “direct path” to Coinbase’s broader ecosystem of users and products, while making institutional-grade yield available to a wider base of onchain users, rather than keeping it siloed on the Ethereum mainnet.
An Aave governance proposal is also currently live to onboard syrupUSDC as collateral on the Aave V3 Base Instance, if the vote passes.
Maple said Chainlink infrastructure will be used to support interoperability between Ethereum and Base, allowing syrupUSDC to function as composable collateral across lending, leverage and other decentralized finance (DeFi) strategies.
Sid Powell, Maple’s co‑founder and CEO, told Cointelegraph that the products were built on “overcollateralized loans” with collateral values “trackable in real time,” thereby providing strong downside protection and sustainable yields as syrupUSDC scales into a new ecosystem like Base.
SyrupUSDC on Aave’s Base governance proposal. Source: AaveRelated: Maple Finance stablecoins debut on Aave’s onchain lending markets
Maple’s Base strategy
Powell characterized Base as a “key next step” for Maple because of its distribution power and rapid DeFi growth. He added that, as a composable yield asset, syrupUSDC “thrives in these conditions,” and said that its growth would be “boosted further by the Aave listing.”
In his view, the next phase of DeFi will be driven by scalable, stable yield products that institutions and everyday users can trust, and he wants syrupUSDC to be one of the core building blocks on Base, adding that “further integrations” in the Base ecosystem were “in the works.”
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Guardrails and “institutional‑grade” yield
Under the hood, Maple emphasizes several guardrails around “looping” — a strategy where users borrow against syrupUSDC and redeposit it to increase leverage — and leverage more broadly.
Loan books backing syrupUSDC are overcollateralized, collateral values are monitored in real time and borrowers face defined margin call and liquidation thresholds, Maple said. Aave’s loan‑to‑value limits also cap how aggressively users can borrow against the token.
Powell also leaned into the “institutional‑grade” label, describing Maple’s stack as spanning technical, operational and legal infrastructure built for institutional lenders.
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Base’s DeFi stack and SocialFi tilt
For Coinbase and Base, the integration adds another piece of credit infrastructure to a DeFi stack that is expanding beyond trading and speculative activity.
For teams building on Base, syrupUSDC provides another composable yield leg at a time when the chain is trying to balance its rapid growth in consumer and Social‑Fi experiments with a more durable DeFi stack.
Jesse Pollak, creator of Base, said that building an open, global onchain economy required the “best possible collateral and financial primitives,” and that Maple offered “institutional-grade infrastructure” that significantly strengthened Base’s DeFi stack.
Source: https://cointelegraph.com/news/maple-brings-syrupusdc-to-base?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
