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- 🎊 ETH Deposit & Trading Carnival Kicks Off!
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Maple Finance expands to Solana, launching yield-generating stablecoin
The lending platform Maple Finance is expanding to the Solana network to reach a broader user base. According to the announcement on June 5th, the company is deploying the stablecoin syrupUSD on Solana platforms such as Kamino and Orca, which were previously only available on Ethereum. This integration starts with $30 million in liquidity, laying a solid foundation for lending and trading.
The integration is supported by Chainlink's Cross-Chain Interaction Protocol (CCIP), allowing data transmission between Ethereum and Solana. Mr. Sid Powell, CEO of Maple, stated that this expansion helps their product reach more users, from institutions to DeFi participants. Solana has a growing decentralized finance ecosystem, with total value locked (TVL) increasing by 500% in the past 18 months, reaching $8.4 million.