Maple Finance expanded its yield-bearing stablecoin, syrupUSD, onto Solana through platforms Kamino and Orca, injecting initial liquidity of US$30M.
Maple's entry into the Solana ecosystem aims to establish robust liquidity conditions, enabling enhanced lending, trading, and collateral activities.
Maple's expansion to Solana was facilitated by Chainlink’s Cross-Chain Interoperability Protocol (CCIP), allowing seamless communication between Ethereum and Solana virtual machines.
Maple Finance's strategic move to tap into Solana's high-speed environment puts it in direct competition with major Solana lending protocols like margin.fi, Rain.fi, and Port Finance.