Jupiter Lend accepts decentralized lender Maple's syrupUSDC as collateral in new tie-up

Decentralized lending service Maple is inching closer to Solana through a new integration with Jupiter Lend, the relatively new credit protocol introduced by one of the cornerstone protocols of the Solana ecosystem.

Jupiter Lend users will now be able to use syrupUSDC as a type of collateral when taking out loans, according to an announcement on Wednesday. Users will be able to borrow against their syrupUSDC positions at a maximum loan-to-value ratio of 88%, with a liquidation threshold of 89%, the announcement reads.

"This integration brings institutional-grade yield products to a retail-friendly, composable environment," Maple CEO Sid Powell said in a statement. "Jupiter's expanding ecosystem makes it an ideal partner as we continue to bring real-world utility to yield-bearing stablecoins."

Maple Finance, launched in 2021, is a decentralized finance protocol that facilitates undercollateralized lending and borrowing of digital assets primarily on the Ethereum blockchain. The idea is to connect institutional borrowers with crypto-native lenders through smart contract-based loan pools managed by experienced pool delegates.

Jupiter, meanwhile, sits at the heart of the Solana ecosystem by acting as a decentralized exchange aggregator. Its new lending feature, released in beta this August, offers high-leverage lending across a number of assets, including, now, the yield-bearing stablecoin syrupUSDC stablecoin.

This new tie-up will be supported by a $150,000 incentive program provided by Jupiter and Maple, designed to subsidize borrowing costs against syrupUSD and lower the effective borrowing rate.

"Incentives are targeted at attracting power users, including DeFi-native traders, market-neutral funds, and capital-efficient yield farmers," the teams write.