On-chain lending platform Maple assets shrink, SYRUP drops 48.6% over the past four weeks

On November 10, The Defiant reported that the governance token SYRUP of the on-chain lending platform Maple Finance declined by 48.6% over the approximately four weeks leading up to the early morning of November 10, falling from $0.2685 to $0.1381. During the same period, Bitcoin and Ethereum dropped by 11% and 16.4%, respectively.

Data from DefiLlama shows that Maple's total value locked stands at $2.22 billion; the Maple dashboard indicates that assets under management for syrupUSDC are $2.36 billion. By comparison, the corresponding figures reported on October 19 were $2.71 billion and $2.68 billion.

SYRUP is a governance token. Unlike the interest-bearing USD products syrupUSDC and syrupUSDT, the decline in the token's price does not imply equivalent losses for these lending products.