- Maple Finance now holds nearly $4 billion in assets under management (AUM), making it the largest onchain asset manager.
- Maple’s AUM significantly outpaces BlackRock’s BUIDL fund in the same space.
- The protocol recently expanded to the Arbitrum.io/” target=”_blank”>Arbitrum and Plasma blockchains.
- SyrupUSD, Maple’s yield-generating stablecoin, has surpassed $1 billion in market value.
- CEO Sid Powell aims for $5 billion in AUM by the end of the year, supported by increased institutional credit demand.
Maple Finance has grown its onchain asset management holdings to close to $4 billion, according to recent data. This places Maple Finance ahead of the BUIDL digital liquidity fund from BlackRock, establishing it as the world’s largest onchain manager.
CEO Sid Powell stated that most of this growth is being driven by institutional investors seeking stable and predictable returns. “The majority of Maple’s growth is being driven by institutional credit demand,” Powell told DL News. He noted that large investors are turning to the protocol’s lending pools for transparent yields and reliability.
Maple’s stablecoin, syrupUSD, has played a key role. The asset can be created by depositing USDT or USDC, and investors can use it within Maple’s lending pools or in other decentralized finance (DeFi) protocols such as Spark, Morpho, Kamino, and Pendle. The demand for syrupUSD helped push its total market capitalization above $1 billion. The protocol’s recent launch on Plasma drove $200 million in deposits within 24 hours. Additionally, an incentive program on Arbitrum boosted deposits after syrupUSD launched on that network in September.
The broader DeFi market has seen a surge in activity, with total deposits hitting nearly $135 billion as more investors seek onchain yields. Powell emphasized the importance of real credit demand in the system. “The sustainability comes from the fact that Maple’s yield is generated by real credit demand, not by circular activity or opaque leverage,” he said. Borrowers on Maple include businesses such as prime brokers, Bitcoin miners, and trading firms.
While Maple’s reliance on syrupUSD poses questions about sustainability and whether future incentives will keep up with deposit growth, Powell said he is confident in the protocol’s foundation. The company plans to integrate with traditional finance systems to access larger credit facilities in the future.
For now, Maple Finance aims to reach $5 billion in AUM by year-end, banking on continued interest from institutional investors and its expanding range of supported blockchains.
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