Maple Finance is expanding its offerings to the Solana network by launching its syrupUSD yield-bearing stablecoin, initially available only on Ethereum. This expansion aims to attract a wider range of users, including institutions and advanced DeFi participants. The move includes a liquidity provision of $30 million, designed to create a robust foundation for lending, trading, and collateral use within the Solana ecosystem. Supported by Chainlink's crosschain Interoperability Protocol (CCIP), the integration enables seamless data transfer between Ethereum Virtual Machine (EVM) and Solana Virtual Machine (SVM), thereby enhancing scalability. With Solana's decentralized finance ecosystem rapidly growing—showing a 500% increase in total value locked since December 2023—Maple will compete with local lending protocols like Save and margin.fi. Despite Ethereum still leading in onchain value, with $61.4 billion in assets, Solana's competition continues to increase within the space.

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