- Maple Finance is bringing its syrupUSD stablecoin to Solana to broaden its user base beyond Ethereum.
- The rollout includes an initial $30 million in liquidity to support lending and trading on Solana platforms like Kamino and Orca.
- This integration uses ChainLink’s crosschain technology to transfer assets between Ethereum and Solana more easily.
- Solana’s decentralized finance (DeFi) ecosystem has grown rapidly, with total value locked (TVL) reaching $8.4 billion.
- Maple will now compete with several Solana-based lending platforms, while Ethereum remains the leading blockchain for DeFi value.
Maple Finance has expanded its operations to the Solana Blockchain, introducing its syrupUSD yield-bearing stablecoin to the Solana network. The company announced the move on June 5 and said the goal is to reach a wider range of users, from institutions to advanced DeFi participants.
The addition of syrupUSD to the Solana ecosystem includes an initial funding of $30 million in liquidity, which will be available on Solana-based platforms Kamino and Orca. Previously, syrupUSD was offered only on the Ethereum blockchain. According to Maple, this liquidity will help build a strong layer for lending, trading, and collateral options within the Solana ecosystem.
The integration is made possible by Chainlink’s crosschain Interoperability Protocol (CCIP), which began operating on Solana’s mainnet on May 19. This technology enables the movement of data and assets between Ethereum’s Virtual Machine (EVM) and Solana’s system, helping make blockchain scaling more cost-effective. Maple co-founder and CEO Sid Powell said, “Expanding to Solana unlocks a high-speed, high-capacity environment where Maple’s products can reach a broader class of users — from institutions to advanced DeFi participants.”
Solana’s DeFi market has grown quickly, with the total value locked (TVL) rising from $1.4 billion in December 2023 to $8.4 billion by June 2025. Within this space, Maple will compete with lending services like Save, margin.fi, Rain.fi, and Port Finance. As of now, Maple has a TVL of $1.3 billion.
While Ethereum leads all blockchains with $61.4 billion in assets held on-chain, it has seen a 43% decrease in value since 2021. Despite this decline, it remains a popular DeFi destination, although other networks such as Solana are catching up.
For more information and current statistics, see DefiLlama and details on Chainlink’s protocol launch at Chainlink Today.
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