Reveals Maple’s syrupUSDC to Base

Maple, a leading on-chain asset manager, announced that its yield-bearing US dollar token, syrupUSDC, will now be available on Coinbase’s Base layer-2 network. The launch gives the company a direct path into Coinbase’s ecosystem and opens institutional-grade yield to a wider base of on-chain users. The move comes as an Aave governance proposal is live to onboard syrupUSDC as collateral on the Aave V3 Base instance, pending a vote.

Coinbase’s Base is an Ethereum layer-2 that aims to provide lower fees and higher throughput for decentralized applications. It has attracted a growing number of developers and users, and it is expanding beyond traditional trading into consumer and Social-Fi experiments. By integrating syrupUSDC, Base adds another layer of credit infrastructure to its ecosystem, supporting more complex financial primitives.

An Aave governance proposal is currently live to onboard syrupUSDC as collateral on the Aave V3 Base instance. If the vote passes, users will be able to deposit, borrow, and leverage syrupUSDC on Base. The proposal is part of a broader effort to bring institutional-grade assets to Base’s DeFi stack and to enable composable yield strategies across the network.

Maple said that Chainlink infrastructure will be used to support interoperability between Ethereum and Base, allowing syrupUSDC to function as composable collateral across lending, leverage and other DeFi strategies. The company emphasized several guardrails around “looping” – a strategy where users borrow against syrupUSDC and redeposit it to increase leverage – and leverage more broadly.

• Over-collateralized loan books that maintain a safety buffer.
• Real-time monitoring of collateral values to trigger margin calls or liquidations.
• Defined margin call and liquidation thresholds set by Maple.
• Aave’s loan-to-value limits that cap how aggressively users can borrow against the token.

Sid Powell, Maple’s co-founder and CEO, told {brand} that the products were built on “overcollateralized loans” with collateral values “trackable in real time,” thereby providing strong downside protection and sustainable yields as syrupUSDC scales into a new ecosystem like Base. Powell characterized Base as a “key next step” for Maple because of its distribution power and rapid DeFi growth. He added that, as a composable yield asset, syrupUSDC “thrives in these conditions,” and said that its growth would be “boosted further by the Aave listing.” In his view, the next phase of DeFi will be driven by scalable, stable yield products that institutions and everyday users can trust, and he wants syrupUSDC to be one of the core building blocks on Base, adding that “further integrations” in the Base ecosystem were “in the works.”

For Coinbase and Base, the integration adds another piece of credit infrastructure to a DeFi stack that is expanding beyond trading and speculative activity. At the same time, the chain is trying to balance its rapid growth in consumer and Social-Fi experiments with a more durable DeFi stack. Jesse Pollak, creator of Base, said that building an open, global on-chain economy required the “best possible collateral and financial primitives,” and that Maple offered “institutional-grade infrastructure” that significantly strengthened Base‘s DeFi stack.