What is Maple Finance?

Launched in May 2021, Maple Finance is a decentralized finance (DeFi) lending protocol that focuses on providing institutional borrowers with undercollateralized loans through on-chain liquidity pools, managed by credit professionals and designed for transparency, efficiency, and risk oversight. It combines DeFi automation with traditional finance practices, requiring KYC in permissioned pools while also offering permissionless alternatives in others. The platform offers fixed-rate, overcollateralized, and undercollateralized loan products, monitored actively by pool delegates who handle credit assessments, margin calls, and liquidations. SYRUP is Maple's native ERC‑20 token, introduced in November 2024 as the successor to the legacy MPL token.

What is SYRUP?

The native token of the protocol is SYRUP, which operates on the Ethereum blockchain. It serves multiple core functions within the ecosystem, including governance participation, protocol incentives, and access to features such as staking and revenue-sharing mechanisms. SYRUP enables holders to engage in decision-making, aligns user incentives, and helps bootstrap the ecosystem's growth via token-based rewards. There is a total supply of 1.2 billion units of SYRUP, and at the time of this publication, there are ~1.11 billion SYRUP currently in circulation.

Risk Statement

Before trading any crypto assets it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

No securities regulatory authority or regulator in Canada has evaluated or endorsed the Crypto Contracts or any of the crypto assets made available through the platform.

Wealthsimple has performed an assessment of whether SYRUP can be supported by Wealthsimple's platform, including whether SYRUP is a security and/or a derivative and is being offered in compliance with securities and derivatives laws.

We evaluated SYRUP based on publicly available information, including (but not limited to):

• The creation, governance, usage and design of SYRUP, including the source code, security and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that first created SYRUP;
• The supply, demand, maturity, utility and liquidity of SYRUP;
• Material technical risks associated with SYRUP, including any code defects, security breaches and other threats concerning SYRUP and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them;
• Legal and regulatory risks associated with SYRUP, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of SYRUP; and
• Statements made by regulators or securities regulatory authorities in Canada and other jurisdictions regarding whether SYRUP, or generally about whether the type of crypto asset, is a security and/or a derivative.

Wealthsimple monitors ongoing developments related to crypto assets available on its platform for significant changes that may affect Wealthsimple's original assessment of those assets, including Wealthsimple's assessment of the application of securities and derivatives laws. Any significant changes relating to SYRUP may result in changes to this Crypto Asset Statement and/or Wealthsimple's ability to support SYRUP.

Like all other crypto assets, there are some general risks to investing in SYRUP. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Please review the Wealthsimple Crypto Product Risk Disclosure for additional discussion of general risks associated with the crypto assets made available through the platform.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading SYRUP. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Wealthsimple is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Wealthsimple Investments Inc. dated December 18, 2023 (the Decision).

The statutory rights of action for damages and rescission in section 130.1 of the Securities Act (Ontario), and, if applicable, similar statutory rights under securities legislation of other jurisdictions of Canada, do not apply in respect of this Crypto Asset Statement to the extent a Crypto Contract is distributed under the prospectus relief in the Decision.

Last Updated: August 26, 2025