Maple Finance Buys More Than Twice as Many SYRUP Tokens With September Revenue

Maple Finance purchased more than twice as many SYRUP tokens using September protocol revenue as it did with August revenue, as its buyback allocation rose from 10% to 20%.

The buyback funded by September revenue acquired 1,371,166 SYRUP for $314,116, at an average price of $0.229 per token. Purchases tied to August revenue totaled 676,294 tokens.

MIP-021 ties monthly SYRUP purchases to protocol revenue. It sets allocation rates of 10%, 20% or 30%, depending on revenue. September qualified for the 20% rate; August used 10%.

Maple’s loan balance reached $1.67 billion at the end of the third quarter, 9% below the second quarter. Quarterly revenue was $4.4 million, unchanged from the second quarter and 5% higher than a year earlier.

The framework treats token purchases as a use of protocol revenue rather than a dividend or profit-sharing distribution. MIP-021 calls for purchases after each revenue month ends.