Maple Unveils Yield-Generating Collateral for Perpetuals on Drift
Maple Finance, the leading on-chain asset manager by assets under management, has launched syrupUSDC as collateral for perpetual futures trading on Drift Protocol.
Summary
- Maple introduces syrupUSDC as yield-generating collateral on Drift, offering an annual percentage yield (APY) of 7–8%.
- Aiming to increase adoption, $100,000 in incentives and a $50M supply cap have been implemented.
- The integration with Drift enhances capital efficiency and broadens the use cases for DeFi on Solana.
A press release shared with crypto.news on August 13 reveals that this integration allows traders on the decentralized exchange based on Solana to earn between 7% and 8% APY on their margin collateral while actively trading.
Enhancing Capital Efficiency in DeFi Trading
Drift (DRIFT), the second largest perpetuals DEX on Solana (SOL) with $1.21 billion in total value locked, now supports syrupUSDC alongside its existing cross-collateral system. This addresses the persistent capital efficiency issue in DeFi margin trading, allowing traders to earn passive income or cover funding costs without needing to transfer assets out of position.
To foster adoption, Maple (SYRUP) has allocated $100,000 in incentives and set a $50 million initial supply cap for syrupUSDC collateral on Drift. This launch builds on Maple’s June introduction of syrupUSDC to Solana, which was initially launched on platforms like Kamino and Orca (ORCA) with $30 million in liquidity.
Backed by Chainlink’s Cross-Chain Interoperability Protocol, this deployment saw $60 million minted on Solana within two weeks.
Expanding Maple’s DeFi Presence
Sid Powell, CEO of Maple, stated that this integration offers “previously unavailable opportunities for traders to maximize their capital,” enabling them to trade, earn, and compound returns simultaneously.
Drift’s cross-margin architecture allows for syrupUSDC to be used in conjunction with other collateral types, a distinct feature not commonly found in decentralized exchanges that generally restrict collateral to either USD or USD Coin (USDC).
SyrupUSDC is recognized as DeFi’s fastest-growing yield-bearing stablecoin, boasting $1.9 billion in AUM. It accrues yield from Maple’s institutional lending pools, which generated an average APY of 5.2% on Bitcoin (BTC) yield products and 9.2% on high-yield products for Q2 2025.
With assets under management now totaling $3.24 billion, Maple has outpaced BlackRock in on-chain AUM and raised its year-end target to $5 billion. This launch is expected to elevate Maple’s status within Solana’s expanding DeFi ecosystem and set a benchmark for integrating yield-bearing stablecoins into leveraged trading frameworks.
Additionally, it positions syrupUSDC as margin collateral for future listings on other protocols.