A decentralized finance (DeFi) altcoin that received trading support from the crypto exchange Binance in May is seeing gains despite the dip in the digital assets market.
The token of Maple Finance (SYRUP) is currently changing hands for $0.475, up by 7.95% over the past 24 hours.
This comes after the DeFi platform for institutional lending unveiled a proposal to increase allocations for purchasing the crypto asset on the open market.
The MIP-018 proposal, which will be open for voting by Syrup holders on July 25th, aims to raise token buybacks from 20% to 25% to increase staking rewards.
“MIP-018 proposes to allocate 25% of protocol fee revenue from Q3 2025 to buyback SYRUP tokens and distribute these as rewards to stakers of SYRUP. This proposal builds on the success of Q1 and Q2 buybacks, advancing a mechanism that’s fast becoming a cornerstone of value distribution and staker alignment in the Maple ecosystem.”
Maple’s buyback mechanism proportionally distributes the bought-back tokens to SYRUP stakers based on their staking amount at the time of each distribution. The program aims to reward long-term stakers, increase staking incentives and sustain the token’s utility.
“By continuing to implement this buyback mechanism, Maple Finance aims to leverage its growing protocol revenue to directly benefit those most active in its governance, fostering a more robust and engaged community.”
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
