Maple Finance has announced the launch of its yield-bearing dollar asset syrupUSDC on the Arbitrum network, providing users with new ways to maximize capital.
Launch of syrupUSDC on Arbitrum
According to a press release issued on September 3, Maple Finance has officially deployed its yield-bearing dollar asset, syrupUSDC, on the Arbitrum One network. The expansion integrates syrupUSDC with DeFi's busiest money markets, including Euler, Morpho, and Fluid, and will be immediately eligible for incentives from Arbitrum’s DRIP program.
Integration with DeFi Platforms
Maple indicated that this expansion allows users to borrow against syrupUSDC while earning ARB rewards, creating a layered yield environment aimed at both institutional desks and retail traders.
Methods to Access syrupUSDC
Users can access syrupUSDC on Arbitrum through two primary methods: acquiring the asset directly on-chain by swapping for it on integrated platforms like Fluid or bridging existing syrupUSDC from the Ethereum mainnet using Arbitrum’s native Transporter bridge. Once in possession of the asset, it can be utilized as collateral in integrated money markets such as Euler, Morpho, and Fluid to borrow additional assets while qualifying for extra ARB token rewards from the DRIP program.
Maple Finance's expansion to Arbitrum reflects the growing interest of institutional investors in on-chain finance and creates new opportunities for users looking to optimize their assets in a DeFi environment.
