$Syrup x Converge Read-Through
- $Syrup partners with Converge (@convergeonchain)
- Converge is a new EVM-based blockchain from @ethena_labs and @Securitize designed to be a settlement layer to on-board TradFi.
- This allows for Converge to use Maple’s infrastructure and liquidity to drive ambition to become the rails for institutional on-boarding.
- This partnership follows recent developments including syrupUSDC on Solana launch, accepting $HYPE as collateral, and BTC-backed financing from Cantor.
- TVL growth continues to climb, now $2.8b, +500% YTD (from $555m Jan1).
- We continue to believe $Syrup is on-track to reach, if not exceed $4b TVL EoY and likely a valuation in the $800m-$1b range.
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