Maple Finance has unveiled a major shift in its governance and token economics that marks its evolution from yield-driven staking to a revenue-linked model.
The protocol’s community overwhelmingly backed proposal MIP‑019, which will terminate the streaming of staking rewards, establish a new treasury fund, and expand governance eligibility.
Under MIP-019, Maple will allocate 25% of ongoing protocol revenue into a newly minted “Syrup Strategic Fund” (SSF). The fund’s primary purpose: deploy token buybacks, build a diversified DAO balance sheet, and bolster long-term sustainability.
By converting revenue into deferred value rather than direct staking emissions, the protocol aims to better align token value with real business performance.
Simultaneously, the proposal ends the current streaming of staking rewards for holders of the stSYRUP token once the existing vesting period completes.
The team argues that while staking was critical to bootstrapping, a mature protocol now benefits more from reinvestment in liquidity and robustness than continuing high-yield incentives.
In addition, governance participation is expanded: both SYRUP and stSYRUP holders will be eligible to vote on future proposals, broadening stakeholder engagement.
Maple’s growth sets the stage for this change. The protocol recently claimed assets under management have grown more than tenfold in the past 12 months, and that current annual recurring revenue from fees is roughly $20 million.
The switch to buybacks is designed to reduce token inflation and place supply controls and incentives into the hands of actual protocol economic performance.
Industry analysts note that Maple’s pivot reflects broader trends in DeFi’s push toward institutional real-world asset (RWA) credit platforms.
The move is “ultra-bullish,” they say, for tightening supply and refocusing value on fundamentals, but caveats remain around the fund’s size, RWA yield execution, and the effectiveness of buy-back mechanisms.
As MIP-019 nears its closing vote, stakeholders will watch closely how Maple executes this ambitious strategy and whether the gamble to end staking rewards yields the sustainable upside the protocol envisages.