About this explorer

Maple runs an institutional lending desk. Depositors supply USDC or USDT; Maple lends it to trading firms and funds on fixed terms, against collateral held by custodians like BitGo and Anchorage. A depositor holds syrupUSDC or syrupUSDT — a share token whose exit rate rises as those loans pay interest.

Each position listed is one wallet's stake in a pool: what its shares are worth to exit today, and where it stands in the withdrawal queue. Exits are queued rather than instant because most of the pool is out on loan — the band at the top of the listing shows how much is liquid right now against how much is deployed.

One caveat carries through every figure. The chain records what Maple's contracts booked — principal lent, the rate posted, the delegate's impairment marks — not that the custodied collateral behind those loans exists. That last step rests on Maple's custodians, off-chain. Amounts stay in the pool's own asset; a stablecoin is never counted as a dollar. Or see the pools themselves and what lenders can actually reach.