Bitcoin News Today: Upbit Lists SYRUP as Token Surges 10-13% on Cantor Partnership Buybacks Hiked to 25%

Upbit, one of the world’s leading cryptocurrency exchanges, has announced the listing of SYRUP, the native token of decentralized finance (DeFi) lending protocol Maple Finance. The exchange will introduce trading pairs for SYRUP in KRW, BTC, and USDT, alongside Huma Finance’s HUMA token in BTC and USDT pairs. This move aligns with SYRUP’s recent partnership with Cantor Fitzgerald’s BTC lending facility, aiming to enhance liquidity and accessibility for investors interested in on-chain credit markets [1]. The listing follows a broader trend of institutional-grade crypto assets gaining traction on major platforms, signaling growing confidence in blockchain-based financial infrastructure.

To drive awareness, Upbit has launched a promotional campaign tied to the SYRUP listing, distributing a prize pool of approximately 228,000 SYRUP tokens. A highlight is the "super jackpot," which will award $6,666 worth of SYRUP to a single winner selected on July 24 at 22:00 UTC+8. Winners must claim their rewards within 24 hours, underscoring the token’s appeal to retail investors. This strategy mirrors tactics employed by other platforms to boost token adoption in the DeFi sector [2].

Concurrently, Maple Finance’s community is preparing for a governance vote (MIP-018) to increase SYRUP buybacks from 20% to 25% of protocol revenue. The proposal, set to commence on July 25, seeks to align token incentives with the platform’s $15M annual recurring revenue (ARR). Analysts note that higher buybacks could strengthen staking rewards and long-term token value for holders, contingent on sustained protocol performance [3]. The vote reflects the DeFi industry’s emphasis on community-driven governance and optimizing token utility.

SYRUP’s recent performance highlights its institutional credibility. Over the past 24 hours, the token surged by 10–13%, driven by increased trading volumes on Coinbase, Binance, and Gate.io. This momentum coincides with Maple Finance’s collaboration with Cantor Fitzgerald, enhancing its on-chain lending capabilities. SYRUP’s simultaneous listing on Upbit, Coinbase, and Binance in July 2025 has drawn comparisons to TIA, another modular L1 project that experienced a 10x surge post-launch [4]. Cross-platform adoption suggests growing institutional interest in DeFi protocols integrating real-world assets (RWAs).

The strategic timing of SYRUP’s Upbit listing aligns with Maple Finance’s mission to bridge traditional finance and blockchain. By enabling institutional borrowers to access on-chain capital via smart contracts, the protocol mitigates counterparty risk while ensuring transparency. This dual focus on security and scalability resonates with investors as decentralized lending markets mature.

Market analysis indicates SYRUP’s trajectory reflects the evolving role of governance tokens in DeFi. If MIP-018 passes, increased buybacks could accelerate token value accrual by prioritizing repurchases over other revenue uses. However, the strategy’s success hinges on Maple Finance maintaining ARR growth and robust risk management. The promotional giveaway also serves as a cost-effective user acquisition tool, a tactic increasingly adopted by crypto projects to drive early-stage adoption [5].

Upbit’s decision to co-list SYRUP with established tokens underscores its role as a gateway for emerging crypto assets, catering to both speculative and utility-driven investors. This aligns with the exchange’s mission to support DeFi innovation while adhering to regulatory frameworks in key markets.

SYRUP’s listing on Upbit, paired with Maple Finance’s governance initiatives, positions the token as a focal point in the DeFi lending landscape. As institutional and retail investors seek diversified exposure to blockchain-based credit markets, SYRUP’s integration with major exchanges and community-driven governance model could drive further adoption. Long-term success, however, will depend on the protocol’s ability to execute its vision of bridging traditional and decentralized finance while navigating market volatility.

Sources:

[1] [Binance Post: SYRUP Prize Pool Announcement](https://www.binance.com/en/square/post/27336310482201)

[2] [CoinMarketCal: MIP-018 Buyback Proposal](https://coinmarketcal.com/en/?page=2)

[3] [Inside Bitcoins: Maple Finance’s Institutional Lending Expansion](https://insidebitcoins.com/sponsored/top-crypto-gainers-today-jul-24-story-maple-finance-chintai-pocket-network)

[4] [Binance Post: SYRUP Listing Comparison to TIA](https://www.binance.com/en-AE/square/post/27358588683890)

[5] [CoinMarketCal: SYRUP Buyback Proposal Details](https://coinmarketcal.com/id/)