Castle Labs 🏰(@castle_labs):Maple Finance closed September with $1.57m in revenue, 20% of which went to buybacks. September was the third month since MIP-021 passed (a buyback program that scales with revenue), and it was the highest buyback month under this MIP. In earlier months, revenue was under $1.5m, and buybacks were limited to 10% of revenue. Based on last month's annualised revenue, the $SYRUP P/S ratio now sits at ~14, well below other lending protocols in the category and awaiting potential repricing.

2026.10.09 13:57

Maple Finance closed September with $1.57m in revenue, 20% of which went to buybacks. September was the third month since MIP-021 passed (a buyback program that scales with revenue), and it was the highest buyback month under this MIP. In earlier months, revenue was under $1.5m, and buybacks were limited to 10% of revenue. Based on last month's annualised revenue, the $SYRUP P/S ratio now sits at ~14, well below other lending protocols in the category and awaiting potential repricing.