Under active development. We're continuously fixing and improving the metrics and parameters, so scores and ratings may change. See changelog

RWABeat

Syrup USDC

Share in a Maple USDC lending pool (ERC-4626). Its value grows with interest from overcollateralized loans to crypto institutions and from Aave and Sky strategies. It is not a stablecoin.

Private creditNon-US persons onlyOnchain dataIssued by Maple Finance · Platform Maple Finance
Value
$936.9M
Stage
None
Below Stage 0: key facts not disclosed
Single-key powers
13
Single key holds critical power
Oracle age
Live
NAV computed onchain every block
Used as DeFi collateral
$63.5M· 11 markets

Pricing

Is the onchain price right, fresh, and hard to manipulate?

Red

A single key can write the NAV down or back up by hand.

  1. A single key can write the NAV down or back up by hand.

  2. The NAV comes from the issuer, with no independent check.

  3. Write-downs reach the onchain price later than they happen.

  4. The contract computes the NAV itself, so it can't go stale.

  5. Its market price tracks NAV: at most 0.22% below (Ethereum DEXs, to 2026-09-23).

Write-downs reach the price
Later than they happen
Largest discount to NAV
0.22% (Ethereum DEXs, to 2026-09-23)

Onchain price reference

Current value
$1.19
Price model
Accumulating NAV
Computed by
Maple Finance
Vault contract
Ethereum0x80ac…Cc0b
Method
convertToExitAssets(shares), from PoolManager totalAssets() minus unrealizedLosses()
Who can change it
A single key (EOA) can write it down or back up
Data comes from
Issuer (self-reported)
Expected cadence
Every block (accrues continuously)
History onchain
Yes

Oracle age

How long since the last onchain update, against the expected cadence.

No onchain oracle to measure.

How DeFi markets price syrupUSDC

A lending market that hardcodes $1 won't notice if the NAV drops.

MarketOraclePricing method
Morpho · syrupUSDC / USDT0x8003…90cCReads the vault's own exchange rate (BASE_VAULT 0x80ac…Cc0b).
Morpho · syrupUSDC / mUSD0x8003…90cCReads the vault's own exchange rate (BASE_VAULT 0x80ac…Cc0b).
Morpho · syrupUSDC / AUSD0x8003…90cCReads the vault's own exchange rate (BASE_VAULT 0x80ac…Cc0b).
Morpho · syrupUSDC / PYUSD0xc804…7039Reads the vault's own exchange rate (BASE_VAULT 0x80ac…Cc0b).
Morpho · syrupUSDC / USDC0x426e…4f80Uses feed 0x5360…1028, not the issuer NAV feed.
Morpho · syrupUSDC / RLUSD0xf766…c1B5Reads the vault's own exchange rate (BASE_VAULT 0x80ac…Cc0b).
Morpho · syrupUSDC / USDC0x8003…90cCReads the vault's own exchange rate (BASE_VAULT 0x80ac…Cc0b).
Morpho · syrupUSDC / msUSD0x96B6…7F33Uses feed 0x3715…9Ba1, not the issuer NAV feed.
Morpho · syrupUSDC / AUSD0xEa87…09BcReads the vault's own exchange rate (BASE_VAULT 0x80ac…Cc0b).
Morpho · syrupUSDC / PYUSD0xf8A3…6B51Reads the vault's own exchange rate (BASE_VAULT 0x80ac…Cc0b).
Morpho · syrupUSDC / RLUSD0xc910…2c06Reads the vault's own exchange rate (BASE_VAULT 0x80ac…Cc0b).