Maple Expands to Solana, Brings Yield-Bearing Stablecoin
Summary
Maple Finance is expanding to the Solana network, deploying its syrupUSD stablecoin to Solana-based platforms Kamino and Orca. This move introduces $30 million in liquidity to Solana, aiming to enhance lending, trading, and collateral provisioning. The integration utilizes Chainlink’s crosschain Interoperability Protocol (CCIP), facilitating data transfer between Ethereum and Solana. Solana's decentralized finance ecosystem has grown significantly, with total value locked increasing 500% over 18 months. Maple Finance's current total value locked is $1.3 billion, while Ethereum remains the leading blockchain with $61.4 billion in assets.
