Maple Launches Yield-Generating Collateral for Perpetuals on Drift
Maple Finance, recognized as the top on-chain asset manager by assets under management, has introduced syrupUSDC as collateral for perpetual futures trading on the Drift Protocol.
Summary
- Maple launches syrupUSDC as yield-generating collateral on Drift, featuring an annual percentage yield (APY) ranging from 7% to 8%.
- To boost adoption, there is a $100,000 incentive fund and a $50 million supply cap in place.
- This integration with Drift improves capital efficiency and expands DeFi use cases on the Solana network.
A press release shared with crypto.news on August 13 indicates that this integration enables traders on the decentralized exchange powered by Solana to earn an APY between 7% and 8% on their margin collateral while actively engaged in trading.
Boosting Capital Efficiency in DeFi Trading
Drift (DRIFT), the second-largest perpetuals DEX on Solana (SOL) with a total value locked of $1.21 billion, now accommodates syrupUSDC in addition to its current cross-collateral system. This development addresses the ongoing issues of capital efficiency in DeFi margin trading, allowing traders to generate passive income or offset funding costs without moving assets out of position.
To encourage adoption, Maple (SYRUP) has committed $100,000 in incentives and established a $50 million initial supply cap for syrupUSDC collateral on Drift. This launch builds on Maple’s earlier introduction of syrupUSDC to Solana in June, which was originally released on platforms like Kamino and Orca (ORCA) with $30 million in liquidity.
Supported by Chainlink’s Cross-Chain Interoperability Protocol, this deployment saw $60 million minted on Solana within a two-week period.
Broadening Maple’s DeFi Reach
Sid Powell, CEO of Maple, mentioned that this integration presents “opportunities previously unavailable for traders to optimize their capital,” enabling them to trade, earn, and compound returns concurrently.
Drift’s cross-margin framework allows syrupUSDC to be utilized alongside other forms of collateral, a unique feature not typically found in decentralized exchanges that usually limit collateral to either USD or USD Coin (USDC).
SyrupUSDC is acknowledged as the fastest-growing yield-bearing stablecoin in DeFi, with $1.9 billion in assets under management. It generates yield from Maple’s institutional lending pools, which delivered an average APY of 5.2% on Bitcoin (BTC) yield products and 9.2% on high-yield offerings for Q2 2025.
Now boasting a total of $3.24 billion in assets under management, Maple has surpassed BlackRock in on-chain AUM and raised its year-end goal to $5 billion. This launch is anticipated to enhance Maple’s prominence within Solana’s burgeoning DeFi ecosystem and establish a new standard for integrating yield-bearing stablecoins into leveraged trading frameworks.
Furthermore, it positions syrupUSDC as margin collateral for future listings on other protocols.
