SYRUP’s Midlife Crisis: Buybacks & Bye-Bye Staking? 🍂

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Key Takeaways 

Why is Maple eyeing buybacks and removing staking? 

To improve protocol sustainability and channel revenue toward long-term value growth instead of short-term emissions. A bold move, or a desperate attempt to outwit the market’s appetite for quick fixes? Only time will tell-or perhaps the next bear market.

Will the plans benefit SYRUP value? 

The proposal could be a catalyst, especially amid steady accumulation and protocol growth. Or a magician’s sleight of hand, distracting you from the fact that your portfolio still smells faintly of burnt toast. 🤡

DeFi lending giant, Maple Finance [SYRUP], has proposed the removal of its governance token. Additionally, the protocol seeks to launch a buyback program for the token. A grand gesture, reminiscent of a wealthy uncle promising to clean up his act-just before his third divorce.

The lending platform said it has matured, and sharing protocol revenue with staked SYRUP (stSYRUP) holders will no longer be sustainable going forward. One imagines the stSYRUP holders are now sipping bitter tea, wondering if they’ve been replaced by a younger, flashier cousin named “Liquidity.”

“Staking was instrumental in bootstrapping the SYRUP ecosystem and aligning long-term holders. As the protocol matures, distributing revenue through staking is less efficient than reinvesting in liquidity and protocol strength.”

– A statement so profound it could be carved into the walls of a crypto bunker, alongside warnings about “regulatory winter” and “do your own research.”

SYRUP buyback proposal

SYRUP is the new governance and reward token tied to the Maple Finance ecosystem. It replaced the older governance token (MPL) on a 1:1 basis. However, only stakers have been enjoying protocol rewards. A tale as old as DeFi itself: “The New Kid on the Blockchain,” where everyone forgets the old token’s birthday. 🎉

In the latest proposal, Syrup Strategic Fund (SSF) will be activated and given 25% of protocol revenue to fund buybacks and build liquidity for the DAO. One can only hope the SSF doesn’t go on a spending spree at the NFT casino. 💸

In H2 2025, Maple generated over $1 million in average monthly revenue, hitting $1.5 million in September. A performance so stellar, even the most jaded analysts might have blinked twice. Or perhaps they just forgot to update their spreadsheets.

At the proposed rate, about $375K would have been allocated to SSF. However, the exact budget for buybacks has not been shared as of this writing. Transparency: the crypto version of a sealed envelope and a wink. 🤫

Source: Token Terminal 

The voting on the proposal will run until the 31st of October. If adopted, revenue sharing with stSYRUP holders will end by November. A bittersweet farewell, like burning a candle at both ends and wondering why it melted faster.

The staking rewards are like emissions that add to short-term selling pressure. Hence, Marple argued that removing staking and adding buybacks is positive for SYRUP’s long-term value. A strategy so clever, it’s almost poetic-if poetry were written in lines of code and existential dread. 📜

Maple’s growth and impact on SYRUP

That said, Maple has grown its active loan book to $2.1 billion, ranking fourth after Aave [AAVE], Morpho [MORPHO], and Spark [SPK]. A climb so steady, it makes Everest look like a hill. Or perhaps the other way around.

In terms of assets under management (AUM), the protocol held over $4 billion at press time, mostly dominated by its yield-bearing stablecoins. With a recent strategic partnership with Aave, the growth could extend. A partnership so smooth, it’s like two socks finally finding their pair in the laundry. 🧦

SYRUP accumulation trend

On-chain data from Santiment showed a steady drop in Supply on Exchanges, indicating accumulation since July,

Meanwhile, the MVRV Ratio (30d) stayed near 1.5%, suggesting modest profit-taking and room for upside. A dance between greed and caution, performed by a crowd wearing blindfolds and tutus. 🩰

With the protocol growth, SYRUP accumulation, and the expected buyback program, can the token climb higher? The altcoin was valued at $0.39, and a firm reclaim of $0.40 (a H2 support) would allow bulls to advance northwards. Even so, the momentum was still bearish unless the price tops $0.46. A battle so epic, it deserves its own documentary narrated by Morgan Freeman. 🎬

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2025-10-29 01:39