Maple x Robinhood Maple just launched syrupUSDG, its first new Syrup asset in two years, and its first integration with Robinhood. Here is how it works. USDG deposited into Robinhood's Crypto Earn flows into a Steakhouse-curated Morpho vault. To borrow from that vault, borrowers must post syrupUSDG as collateral, meaning they first deposit USDG into Maple to mint syrupUSDG, then use it to access liquidity. The yield traces back to Maple's institutional loan book: $22B+ originated since 2022, zero forced liquidations. A few things make this deal structurally interesting. The collateral mechanic creates direct borrower-side demand for Maple. Every borrower seeking liquidity from the vault needs to go through Maple first to mint syrupUSDG. That dynamic is further reinforced by Paxos, which will be actively involved in sourcing new loan originations for Maple. The regulated dollar angle is also worth flagging (MAS in Singapore, MiCA in Europe). USDG opens Maple's credit strategies to institutional and regulated-entity allocators with restrictions on which stablecoins they can hold. For context, syrupUSDC averaged 4.81% APY and syrupUSDT 4.36% APY in Q1 2026, both sustaining a ~200 bps premium over AAVE v3 benchmarks throughout the period. Robinhood users interact with none of this directly. From their perspective it is a simple yield product inside the app. Gaëtan Thabot, Director of Partnerships at @RobinhoodCrypto, said: "Maple's launch of syrupUSDG on Robinhood Chain is a strong example of the kind of financial infrastructure we want to support on the chain: transparent, onchain, and built with clear separation of roles. Robinhood is excited to see the number of tier-one partners supporting the growth of the chain." We've been quite vocal about Maple's renewed momentum these last couple of weeks, and this announcement just confirms the current growth mode Maple is in. @syrupsid, CEO of @maplefinance: "Stablecoins have solved how dollars move onchain, but there is growing demand for transparent, onchain strategies that can help those dollars work harder. With syrupUSDG, Maple is bringing its institutional credit engine to USDG and making it available on Robinhood Chain." Full diagram and press release below.

Maple x Robinhood Maple just launched syrupUSDG, its first new Syrup asset in two years, and its first integration with Robinhood. Here is how it works. USDG deposited into Robinhood's Crypto Earn flows into a Steakhouse-curated Morpho vault. To borrow from that vault, borrowers must post syrupUSDG as collateral, meaning they first deposit USDG into Maple to mint syrupUSDG, then use it to access liquidity. The yield traces back to Maple's institutional loan book: $22B+ originated since 2022, zero forced liquidations. A few things make this deal structurally interesting. The collateral mechanic creates direct borrower-side demand for Maple. Every borrower seeking liquidity from the vault needs to go through Maple first to mint syrupUSDG. That dynamic is further reinforced by Paxos, which will be actively involved in sourcing new loan originations for Maple. The regulated dollar angle is also worth flagging (MAS in Singapore, MiCA in Europe). USDG opens Maple's credit strategies to institutional and regulated-entity allocators with restrictions on which stablecoins they can hold. For context, syrupUSDC averaged 4.81% APY and syrupUSDT 4.36% APY in Q1 2026, both sustaining a ~200 bps premium over AAVE v3 benchmarks throughout the period. Robinhood users interact with none of this directly. From their perspective it is a simple yield product inside the app. Gaëtan Thabot, Director of Partnerships at @RobinhoodCrypto, said: "Maple's launch of syrupUSDG on Robinhood Chain is a strong example of the kind of financial infrastructure we want to support on the chain: transparent, onchain, and built with clear separation of roles. Robinhood is excited to see the number of tier-one partners supporting the growth of the chain." We've been quite vocal about Maple's renewed momentum these last couple of weeks, and this announcement just confirms the current growth mode Maple is in. @syrupsid, CEO of @maplefinance: "Stablecoins have solved how dollars move onchain, but there is growing demand for transparent, onchain strategies that can help those dollars work harder. With syrupUSDG, Maple is bringing its institutional credit engine to USDG and making it available on Robinhood Chain." Full diagram and press release below.

Comprehensive revenue tracking is live at Revenue by Source: perps, spot, HIP-3, priority fees, auctions, and HyperEVM, every stream as a share of protocol revenue. Income Statement: every fee line down to operating net income and margin, after the HLP cut and the builder and deployer distributions, with HYPE removed vs emitted below the line. Daily Revenue: total protocol income every day since December 2024, stacked by source. Revenue Mix Over Time: how each source's share of monthly revenue has shifted, with HIP-3, spot, and HyperEVM gaining on native perps. Revenue by Market: the individual coins that generate the fees, ranked, counted separately across their perp, spot, and HIP-3 markets. Revenue by Asset Class: the fee mix month by month across majors, HYPE, alts, memes, HIP-3 real-world assets, and spot. Fee Concentration: the share of fees paid by the top 1%, 0.1%, and 10% of wallets, with a Lorenz curve and Gini across every fee-paying wallet. Revenue by Hour & Weekday: when fees land across the day and the week, and the busiest hour and day. Effective Take-Rate: the fee earned per dollar of volume in bps, gross and net, the difference being the builder and deployer take. Builder & Deployer Revenue: the fees routed out to front-ends and HIP-3 deployers, sized against the protocol revenue itself. HYPE Retired Daily: what the Assistance Fund bought back and removed from circulation each day, and the pace it is running. Buyback Cadence: the same buys in finer detail, every bucket down to 5-minute resolution, with the average price paid. Buyback Cost Basis: what the AF paid for its HYPE against where it trades now, and whether the buyback is in profit. Liquidation Fees: the share of revenue that comes from forced liquidations. Hyperliquid.

Comprehensive revenue tracking is live at Revenue by Source: perps, spot, HIP-3, priority fees, auctions, and HyperEVM, every stream as a share of protocol revenue. Income Statement: every fee line down to operating net income and margin, after the HLP cut and the builder and deployer distributions, with HYPE removed vs emitted below the line. Daily Revenue: total protocol income every day since December 2024, stacked by source. Revenue Mix Over Time: how each source's share of monthly revenue has shifted, with HIP-3, spot, and HyperEVM gaining on native perps. Revenue by Market: the individual coins that generate the fees, ranked, counted separately across their perp, spot, and HIP-3 markets. Revenue by Asset Class: the fee mix month by month across majors, HYPE, alts, memes, HIP-3 real-world assets, and spot. Fee Concentration: the share of fees paid by the top 1%, 0.1%, and 10% of wallets, with a Lorenz curve and Gini across every fee-paying wallet. Revenue by Hour & Weekday: when fees land across the day and the week, and the busiest hour and day. Effective Take-Rate: the fee earned per dollar of volume in bps, gross and net, the difference being the builder and deployer take. Builder & Deployer Revenue: the fees routed out to front-ends and HIP-3 deployers, sized against the protocol revenue itself. HYPE Retired Daily: what the Assistance Fund bought back and removed from circulation each day, and the pace it is running. Buyback Cadence: the same buys in finer detail, every bucket down to 5-minute resolution, with the average price paid. Buyback Cost Basis: what the AF paid for its HYPE against where it trades now, and whether the buyback is in profit. Liquidation Fees: the share of revenue that comes from forced liquidations. Hyperliquid.

New Outstanding Loans ATH for Maple, and $SYRUP is up 25% today. @maplefinance has reached a new all-time high in active loans, climbing to $1.725B, up 6.2% from its previous peak of $1.623B, recorded in December. Since bottoming at $772.9M in April 2026, active loans have rebounded by 123.2%. Loans are Maple's primary revenue driver, and now you can expect revenue to follow in the coming months. It's also worth remembering that Maple managed to reach a new all-time high while $BTC price action has been horrific. Their TAM has effectively been cut in half, and somehow, they still managed to post a new loans ATH. We've been quite vocal lately about how underpriced and underappreciated Maple and $SYRUP are. In a single day, they added more than $200M in loans, which once again confirms just how resilient this team is. Onwards, Maple. More below.

New Outstanding Loans ATH for Maple, and $SYRUP is up 25% today. @maplefinance has reached a new all-time high in active loans, climbing to $1.725B, up 6.2% from its previous peak of $1.623B, recorded in December. Since bottoming at $772.9M in April 2026, active loans have rebounded by 123.2%. Loans are Maple's primary revenue driver, and now you can expect revenue to follow in the coming months. It's also worth remembering that Maple managed to reach a new all-time high while $BTC price action has been horrific. Their TAM has effectively been cut in half, and somehow, they still managed to post a new loans ATH. We've been quite vocal lately about how underpriced and underappreciated Maple and $SYRUP are. In a single day, they added more than $200M in loans, which once again confirms just how resilient this team is. Onwards, Maple. More below.