Maple Finance Moves to Solana with New Yield-Generating Stablecoin
Maple Finance has launched its services on the Solana blockchain, rolling out its yield-generating stablecoin, syrupUSDC, as part of a strategic expansion. The move marks a key step in the platform’s broader goal to bring its lending and asset management products to more users across multiple blockchain networks.
Previously active only on Ethereum, Maple is now extending its offering to a faster and more scalable network. The introduction of syrupUSDC on Solana will allow users to access fixed-rate yield products in a low-cost, high-speed environment, helping Maple tap into the growing demand for decentralised finance (DeFi) on emerging platforms.
Images 1: Maple (Source: CryptoMeter)
A Strong Launch Backed by Liquidity and Rewards
As part of the launch, Maple has introduced syrupUSDC to Solana-based platforms such as Kamino and Orca. syrupUSDC is a stablecoin backed by USDC and designed to earn yield passively. It can be used on Solana directly or moved from Ethereum via Chainlink’s Cross-Chain Interoperability Protocol (CCIP), offering flexibility for users active on both chains.
To support its introduction, Maple has allocated $30 million in liquidity for syrupUSDC on Solana, ensuring the stablecoin can be easily accessed and traded. A $500,000 reward pool has also been set aside to incentivise early adoption and provide attractive returns to users participating in lending and liquidity programs.
These incentives will be distributed weekly and focus on several areas. Kamino’s USDG vault will receive $15,000 per week, while the Maple USDG and Maple USDC supply pools will also be rewarded at the same rate. An additional $7,500 will be directed each week to Paxos USDG debt participants.
Maple has partnered with @KaminoFinance for the first syrupUSDC integration on Solana.
syrupUSDC is now available as a collateral asset with its own dedicated Kamino Multiply market and a $500k incentive budget.
All details below: pic.twitter.com/MvjXtk6cTH
— Maple (@maplefinance) June 5, 2025
Kamino Takes the Lead on syrupUSDC Integration
Kamino, a major DeFi platform on Solana with over $600 million in stablecoins under management, has integrated syrupUSDC into its lending and liquidity infrastructure. The token is now part of Kamino Lend, Multiply, and Liquidity Vault products, which enable users to earn fixed yields, leverage positions, or provide capital to trading pools.
With Kamino as the primary distribution channel for syrupUSDC on Solana, Maple is making it easier for users to engage with its products. The collaboration brings together Maple’s lending model with Kamino’s scale and established presence within the Solana ecosystem.
Sid Powell, co-founder and Chief Executive Officer of Maple Finance, stated that the expansion is aimed at increasing access to their services by taking advantage of Solana’s performance benefits. By operating in a high-speed and cost-efficient blockchain environment, Maple intends to offer reliable, yield-bearing instruments to both institutions and experienced crypto users.
Image 2 (Source: Crypto News Australia)
Expanding Reach in a Competitive DeFi Landscape
Maple’s growth strategy reflects its focus on building a presence across multiple blockchains. By entering the Solana network, the company aims to extend its influence and take part in the increasing demand for institutional-grade lending products in DeFi.
Solana, which currently holds over $11 billion in circulating stablecoins, provides a suitable backdrop for this expansion. Its fast processing times, minimal fees, and growing base of DeFi users create an ideal setting for Maple’s new offering.
Maple has already built partnerships with major industry platforms, including Binance Earn, OKX Wallet, Pendle, and Morpho. With over $1.9 billion in total assets under management and syrupUSDC supply exceeding $550 million, the platform has already established itself as a key player in on-chain asset management. Its move to Solana adds another significant network to its operational footprint.
Other Solana-based lending platforms such as Save, margin.fi, Rain.fi, and Port Finance may now face increased competition with Maple entering the scene. However, Maple’s early investment in infrastructure, incentives, and partnerships is expected to support its growth on the new chain.
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The company currently holds a total value locked (TVL) of $1.3 billion across its offerings, and the rollout on Solana is set to expand that figure further by attracting more users seeking stable returns in a decentralised setting.
With its presence on Solana now established and incentives in place, Maple Finance is positioning itself as a strong contender in the next generation of decentralised financial platforms.
