Onboard syrupUSDC to Fluid on Ethereum, Arbitrum, and Base
Author: TokenLogic
Date: 2025-08-22
Summary
This proposal seeks to integrate syrupUSDC, a USDC-based yield-bearing token issued by Maple Finance, into the Fluid ecosystem.
The proposal will:
- Initialize syrupUSDC on the Liquidity Layer across Ethereum, Arbitrum, and Base.
- Deploy syrupUSDC/USDC, syrupUSDC/USDT and syrupUSDC/GHO vaults.
syrupUSDC is built on Maple Finance’s credit infrastructure, offering access to overcollateralized, fixed-rate institutional loans with consistent real yield for DeFi users.
Proposal
About Maple & syrupUSDC
Maple Finance, launched in 2021, is a leading onchain credit and asset management protocol with $2.3b AUM as of June 2025.
syrupUSDC is an ERC-4626 yield-bearing token backed by USDC deposits into Maple’s credit pools. Loans are fully collateralized by digital assets, protecting lenders against defaults. Maple’s strategies have historically generated 7–15% net APY, making syrupUSDC a strong source of sustainable yield.
By integrating syrupUSDC into Fluid, we provide users with a yield-bearing stable asset while deepening USDC and USDT liquidity across Fluid vaults.
Liquidity Layer Integration
Proposed syrupUSDC Rate Curve
syrupUSDC is not directly borrowable, but a rate curve must be defined for protocol requirements.
- Utilization 0%: 0% Rate
- Utilization 50%: 10% Rate
- Utilization 80%: 20% Rate
- Utilization 100%: 50% Rate
Token Config Updates for syrupUSDC:
- Threshold: 0.25%
- Fee: 10%
Vault Parameters
syrupUSDC/USDC
Supply Configuration
- Mode: 1 (Guardian Enabled)
- Expand Percent: 20%
- Expand Duration: 12 hours
- Base Withdrawal Limit: 10M syrupUSDC
Borrow Configuration
- Mode: 1 (Guardian Enabled)
- Expand Percent: 20%
- Expand Duration: 12 hours
- Base Debt Ceiling: 10M USDC
- Max Debt Ceiling: 25M USDC
Core Settings
- Supply Rate Magnifier: 1x
- Borrow Rate Magnifier: 1x
- Collateral Factor: 90%
- Liquidation Threshold: 92%
- Liquidation Max Limit: 95%
- Withdraw Gap: 5%
- Liquidation Penalty: 2%
- Borrow Fee: 0%
syrupUSDC/USDT
Supply Configuration
- Mode: 1 (Guardian Enabled)
- Expand Percent: 20%
- Expand Duration: 12 hours
- Base Withdrawal Limit: 10M syrupUSDC
Borrow Configuration
- Mode: 1 (Guardian Enabled)
- Expand Percent: 20%
- Expand Duration: 12 hours
- Base Debt Ceiling: 10M USDT
- Max Debt Ceiling: 25M USDT
Core Settings
- Supply Rate Magnifier: 1x
- Borrow Rate Magnifier: 1x
- Collateral Factor: 90%
- Liquidation Threshold: 92%
- Liquidation Max Limit: 95%
- Withdraw Gap: 5%
- Liquidation Penalty: 2%
- Borrow Fee: 0%
syrupUSDC/GHO
Supply Configuration
- Mode: 1 (Guardian Enabled)
- Expand Percent: 20%
- Expand Duration: 12 hours
- Base Withdrawal Limit: 10M syrupUSDC
Borrow Configuration
- Mode: 1 (Guardian Enabled)
- Expand Percent: 20%
- Expand Duration: 12 hours
- Base Debt Ceiling: 10M GHO
- Max Debt Ceiling: 25M GHO
Core Settings
- Supply Rate Magnifier: 1x
- Borrow Rate Magnifier: 1x
- Collateral Factor: 90%
- Liquidation Threshold: 92%
- Liquidation Max Limit: 95%
- Withdraw Gap: 5%
- Liquidation Penalty: 2%
- Borrow Fee: 0%
Deployment Details
- Chains: Ethereum, Arbitrum, Base
- Deployment Address: [To be updated post-deployment]
- Oracle Address: [To be confirmed]
- Rebalancer Address:
0x264786EF916af64a1DB19F513F24a3681734ce92
Reason
This integration expands Fluid’s stablecoin and yield-bearing markets by adding syrupUSDC, one of the leading institutional DeFi assets. It:
- Increases utility of stablecoins on the Liquidity Layer.
- Attracts new institutional liquidity via Maple’s $500M+ capital allocator network.
- Aligns with Fluid’s role as the liquidity layer for sustainable, yield-bearing assets.
Conclusion
This proposal integrates Maple Finance into Fluid by:
- Initializing syrupUSDC on the Liquidity Layer.
- Deploying syrupUSDC/USDC and syrupUSDC/USDT vaults across Ethereum, Arbitrum, and Base.
- Boosting stablecoin rewards to drive adoption and liquidity.
The integration of syrupUSDC strengthens Fluid’s positioning as the core liquidity hub for yield-bearing stable assets, while offering users exposure to Maple’s institutional lending strategies.