syrupUSDC supply on kamino has smashed through the $100 million mark, helping push @Maple Finance Official overall market deposits beyond $200 million.
To keep up with the surging demand, kamino has doubled the supply cap to $200 million. This means that there will be more room for users to dive in, especially with Kamino's Multiply feature, which lets you leverage up your positions (up to 4x) for amplified yields on these RWA backed stables.
syrupUSDC isn't just an average yield dollar asset it is designed to earn passive yield from Maple's lending pools, often offering competitive APY while maintaining a peg close to $1 (current price around $1.14).
Globally, syrupUSDC boasts a market cap of approximately $1.3- $1.5 billion, with a circulating supply over 1.1 billion tokens, making it a heavyweight in the RWA DeFi space.
On Kamino, this cap increase opens the door for more lending, borrowing, and looping strategies, all automated for ease.