Stablecoins
Maple Finance's $200M Lending Vault on Plasma Fully Subscribed in Under 60 Seconds
The pre-mainnet launch demonstrates strong institutional demand for yield-bearing stablecoin products on new Layer 2 networks.
September 16, 2025
Plasma Foundation, in partnership with Maple Finance, launched a $200M vault for syrupUSDT.
The entire $200M capacity was filled by depositors in under one minute.
The initiative serves to bootstrap liquidity for the Plasma network ahead of its mainnet launch, rewarding users with multiple interest and token rewards.
Plasma Foundation's syrupUSDT vault, a collaboration with Maple Finance, reached its $200 million Total Value Locked (TVL) capacity in less than one minute. The vault is designed to bootstrap liquidity for Plasma's upcoming mainnet launch.
This rapid subscription highlights significant market appetite for institutional-grade DeFi products that offer stablecoin-based yield. syrupUSDT is Maple Finance's institutional lending product. Depositors in the vault will earn interest on their USDT, in addition to receiving Drips rewards and future XPL token rewards following the network's Token Generation Event (TGE).
The successful launch signals strong early support for the Plasma ecosystem and underscores a broader trend of capital flowing towards new Layer 2 solutions that provide reliable yield opportunities. The collaboration between an established DeFi player like Maple and a new platform like Plasma provides a template for bootstrapping liquidity on emerging networks.
Read more:
https://www.circle.com/blog/circle-and-usdc-expansion-with-hyperliquid
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