# Syrup USDC (syrupUSDC)

<https://galactic.inc/analytics/syrupusdc/>

Data block: 26,237,861 (2026-10-21 02:04 UTC)

[Maple Finance](https://maple.finance/) · Private credit · Ethereum
- Price: $1.1890
- Market cap: $1.05B
- Supply: 880,510,359.96
- Holder addresses: 3,297
- Top 10 share: 85.1%
- Transfer volume (30d): $1.13B

Syrup USDC (syrupUSDC) is Maple Finance's yield-bearing USDC vault token, which earns interest from overcollateralized loans to institutions. On Ethereum it has a supply of 880,510,359.96 tokens held by 3,297 addresses, for a market cap of $1.05B at block 26,237,861.

## Price sources

| Source | Value | Type | Estimated | Link | As of |
|---|---|---|---|---|---|
| syrupUSDC vault rate (ERC-4626) | $1.1881 | On-chain read | No | [etherscan.io](https://etherscan.io/address/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b) | 2026-10-21 |
| RWA.xyz | $1.1876 | Third party | No | [app.rwa.xyz](https://app.rwa.xyz/assets/syrupUSDC) | 2026-10-21 |

## Backing

Retrieved: 2026-10-16

### Token supply vs reported

| Comparison | Token supply | Reported | Gap | Ratio |
|---|---|---|---|---|
| Ethereum market cap vs assets under management (all chains) | $1.05B | $2.72B | −$1.67B | 0.3849 |

### Token supply

| Ethereum, block 26,237,861 | syrupUSDC |
|---|---|
| Tokens outstanding | 880,510,359.96 |
| Market cap (Ethereum) | $1.05B |

### Reported assets

| [Issuer report](https://maple.finance/transparency) | Reported |
|---|---|
| Assets under management (issuer-reported, all chains) | [$2.72B](https://maple.finance/transparency) |

## Key facts

- **Issuer:** [Maple Finance](https://maple.finance/)
- **Category:** Private credit
- **Chains:** Ethereum
- **Deployed:** 2024-05-21
- **Transfers (30d):** 5,583
- **Transfer volume (30d):** $1.13B
- **Data block:** [26,237,861](https://etherscan.io/block/26237861)

## Regulatory structure

As of 2026-10-17

- **Issuer legal entity:** [Maple International Operations SPC, for the account of Secured Loan Segregated Portfolio 1](https://docs.maple.finance/legal/syrupusdc-and-syrupusdt-available-jurisdictions)
- **Jurisdiction of issuer:** [Cayman Islands](https://docs.maple.finance/legal/syrupusdc-rewards-prize-draw-terms-and-conditions)
- **Eligible investors:** [Persons outside restricted jurisdictions](https://docs.maple.finance/legal/syrupusdc-and-syrupusdt-available-jurisdictions)
- **US persons:** [Not permitted (per issuer)](https://docs.maple.finance/legal/syrupusdc-and-syrupusdt-available-jurisdictions)

[Definitions and methodology](https://galactic.inc/analytics/syrupusdc/#regulatory-glossary)

## Contract control

| Holder | Roles | Type | Key use | Last rotated |
|---|---|---|---|---|
| **Ethereum** |  |  |  |  |
| [0x2eff…426b](https://etherscan.io/address/0x2efff88747eb5a3ff00d4d8d0f0800e306c0426b) | Admin | Timelock 24h | [Shared · 2 assets](https://galactic.inc/analytics/issuers/maple-finance/#k-ethereum-0x2efff88747eb5a3ff00d4d8d0f0800e306c0426b) | Rotation history not available |

## Role history

| Role | Key | Type | Added | Days held | Granted by | Other assets |
|---|---|---|---|---|---|---|
| **Ethereum** |  |  |  |  |  |  |
| Admin | [0x2eff…426b](https://etherscan.io/address/0x2efff88747eb5a3ff00d4d8d0f0800e306c0426b) | Timelock | Earliest available state: 2026-10-20 | — | — | [syrupUSDT](https://galactic.inc/analytics/syrupusdt/) |

## Change log

| Time (UTC) | Network | Event | Details | Transaction |
|---|---|---|---|---|
| 2024-01-09 15:05:59 | Ethereum | Threshold changed | Threshold: 3 | [0x155f…50fe](https://etherscan.io/tx/0x155f8556e214a770d3c16ef7387e85ed0e6d7454fa479af7234f32cc2a8c50fe) |
| 2024-01-09 15:05:59 | Ethereum | Signer added | 0x57d1…cc7c | [0x155f…50fe](https://etherscan.io/tx/0x155f8556e214a770d3c16ef7387e85ed0e6d7454fa479af7234f32cc2a8c50fe) |
| 2024-01-06 06:14:23 | Ethereum | Threshold changed | Threshold: 2 | [0x1e7d…2179](https://etherscan.io/tx/0x1e7d78dd87b2adce96fefa86d925cf7d9456d061a144ac9d6bedc9565e732179) |
| 2024-01-06 06:14:23 | Ethereum | Signer added | 0x8be3…9736 | [0x1e7d…2179](https://etherscan.io/tx/0x1e7d78dd87b2adce96fefa86d925cf7d9456d061a144ac9d6bedc9565e732179) |
| 2024-01-06 06:12:59 | Ethereum | Signer added | 0x4024…307b | [0x8e43…760f](https://etherscan.io/tx/0x8e43df85c3681c051a252813bef567653c263cb699bf39521b4cc0ece315760f) |
| 2024-01-06 06:09:59 | Ethereum | Signer added | 0xf570…d827 | [0x5ef8…0176](https://etherscan.io/tx/0x5ef8f7954e374cb009980e6d95c3916b65678092b15e49f3c067f54709d00176) |
| 2023-11-28 06:18:59 | Ethereum | Multisig set up | Signers: 1 · threshold: 1 | [0xd42c…014b](https://etherscan.io/tx/0xd42c3bef9e33f28310e88295f05849d0cadd0cf740bd630453ee14d577ab014b) |
| 2023-06-26 13:37:11 | Ethereum | Threshold changed | Threshold: 3 | [0x818a…2675](https://etherscan.io/tx/0x818a71ae83f86f54af2474937a8e9a94b8c867d0aa3670d98816e403710a2675) |
| 2023-06-18 02:07:59 | Ethereum | Signer removed | 0x53eb…757e | [0x82a1…bad8](https://etherscan.io/tx/0x82a189f688c5f1539dd0d905df42164ebbc24ffe5e7ea146ed89f49d1b28bad8) |
| 2023-06-18 02:07:59 | Ethereum | Signer added | 0x4e10…4e4b | [0x82a1…bad8](https://etherscan.io/tx/0x82a189f688c5f1539dd0d905df42164ebbc24ffe5e7ea146ed89f49d1b28bad8) |

**Show 8 earlier events**

| Time (UTC) | Network | Event | Details | Transaction |
|---|---|---|---|---|
| 2023-06-18 02:07:59 | Ethereum | Signer added | 0x8ce4…8624 | [0x82a1…bad8](https://etherscan.io/tx/0x82a189f688c5f1539dd0d905df42164ebbc24ffe5e7ea146ed89f49d1b28bad8) |
| 2023-06-16 15:49:11 | Ethereum | Signer added | 0x4109…1ed1 | [0x1372…e486](https://etherscan.io/tx/0x137216bcd0311fdf4ab6afae95adae6c6df142308fb5bde17b10250eee96e486) |
| 2022-12-13 20:12:59 | Ethereum | Threshold changed | Threshold: 2 | [0x7b1c…778e](https://etherscan.io/tx/0x7b1c7a9c31b69368fa18012cb4bdb9018a9397365086f4edca67bf0541a4778e) |
| 2022-12-13 20:12:59 | Ethereum | Signer added | 0x54cc…3b74 | [0x7b1c…778e](https://etherscan.io/tx/0x7b1c7a9c31b69368fa18012cb4bdb9018a9397365086f4edca67bf0541a4778e) |
| 2021-08-30 06:26:49 | Ethereum | Signer added | 0x0630…4ff8 | [0x725e…0d39](https://etherscan.io/tx/0x725e10a173f1e0435f7e0c2c882dcba61786bd5cea3884974c2e99f21fbb0d39) |
| 2021-08-30 06:26:49 | Ethereum | Signer removed | 0x1608…19a9 | [0x725e…0d39](https://etherscan.io/tx/0x725e10a173f1e0435f7e0c2c882dcba61786bd5cea3884974c2e99f21fbb0d39) |
| 2021-05-26 01:49:11 | Ethereum | Signer added | 0x53eb…757e | [0x19ad…7cf0](https://etherscan.io/tx/0x19ad750dc112f93ed3f03d05d2a4852a7a37b4fc1d2394e444b0ca5af4a77cf0) |
| 2021-05-24 15:51:27 | Ethereum | Signer added | 0x44a6…33ca | [0x72dd…9f5b](https://etherscan.io/tx/0x72ddbf314bb0441016b36ad99b3668c7c017ad3d0d754ecb41a9598971f59f5b) |

## Leadership

- [Sid Powell](https://galactic.inc/analytics/people/sid-powell/) · Co-Founder and Chief Executive Officer
- [Joe Flanagan](https://galactic.inc/analytics/people/joe-flanagan/) · Co-Founder and Executive Chairman
- [Matt Collum](https://galactic.inc/analytics/people/matt-collum/) · Chief Technology Officer
- [Ryan O'Shea](https://galactic.inc/analytics/people/ryan-oshea/) · Chief Operating Officer

## Contracts

| Address | Asset |  |
|---|---|---|
| [0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b](https://galactic.inc/analytics/syrupusdc/ethereum/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b/) | Syrup USDC syrupUSDC | [Etherscan](https://etherscan.io/token/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b) |

## Top 10 holders

| # | Address | Balance |
|---|---|---|
| 1 | [0xb6dd7ae22c9922afee0642f9ac13e58633f715a2](https://etherscan.io/token/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b?a=0xb6dd7ae22c9922afee0642f9ac13e58633f715a2) | 342,009,916.63 |
| 2 | [0x20b79d39bd44deee4f89b1e9d0e3b945fde06491](https://etherscan.io/token/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b?a=0x20b79d39bd44deee4f89b1e9d0e3b945fde06491) | 249,574,048.21 |
| 3 | [0xbbbbbbbbbb9cc5e90e3b3af64bdaf62c37eeffcb](https://etherscan.io/token/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b?a=0xbbbbbbbbbb9cc5e90e3b3af64bdaf62c37eeffcb) | 53,881,961.75 |
| 4 | [0x3c9ea5c4fec2a77e23dd82539f4414266fe8f757](https://etherscan.io/token/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b?a=0x3c9ea5c4fec2a77e23dd82539f4414266fe8f757) | 33,199,429.28 |
| 5 | [0xbe8f87f2b59e59d13588bba448036e2688c57c27](https://etherscan.io/token/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b?a=0xbe8f87f2b59e59d13588bba448036e2688c57c27) | 29,488,992.29 |
| 6 | [0x1f7357a0154e3f2c63bd63babc315689ab32ed6d](https://etherscan.io/token/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b?a=0x1f7357a0154e3f2c63bd63babc315689ab32ed6d) | 20,811,063.76 |
| 7 | [0xc78e0c232a1ba9822bc4108f558c69fb096e55e5](https://etherscan.io/token/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b?a=0xc78e0c232a1ba9822bc4108f558c69fb096e55e5) | 11,636,720.86 |
| 8 | [0x50611c809b7e35bcee35ffec7f81bf2a763e191a](https://etherscan.io/token/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b?a=0x50611c809b7e35bcee35ffec7f81bf2a763e191a) | 7,604,395.27 |
| 9 | [0xfe4a829408b7f576522dcb7d607c312a034248c5](https://etherscan.io/token/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b?a=0xfe4a829408b7f576522dcb7d607c312a034248c5) | 5,476,459.03 |
| 10 | [0x7f248eb5802cd54090c9045c25d2e9dcd20d5927](https://etherscan.io/token/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b?a=0x7f248eb5802cd54090c9045c25d2e9dcd20d5927) | 4,673,494.44 |

## Frequently asked questions

**What is syrupUSDC?**

SyrupUSDC is Maple’s yield-bearing USDC vault token that gives anyone access to institutional lending returns. When users deposit USDC, they receive syrupUSDC, which appreciates in value as Maple lends pooled capital to vetted institutional borrowers who post crypto collateral and pay interest.

**Who issues syrupUSDC?**

SyrupUSDC is issued by Maple Finance.

**How is the syrupUSDC price on this page determined?**

The price is derived from the ERC-4626 vault exchange rate read from the vault contract.

## Related assets

- [BMN2 Private credit · $925.5M](https://galactic.inc/analytics/bmn2/)
- [JAAA Private credit · $580.7M](https://galactic.inc/analytics/jaaa/)
- [PRIME Private credit · $420.2M](https://galactic.inc/analytics/prime/)
- [reUSD Private credit · $325.0M](https://galactic.inc/analytics/reusd/)