Background

Maple Finance and their flagship product SyrupUSDC have seen massive adoption since launch. Initially, a Balancer V2 StablePool was utilized with a 5M USD deposit to evaluate capital efficiency and UX compared to Uniswap V3. The pool on both platforms was composed of SyrupUSDC and USDC, and if SyrupUSDC returns to Balancer, the same swap path would be supported.

Balancer's Value Proposition

Balancer V3 introduces new primitives that make it the best correlated asset solution on the market, with adaptability to market conditions through several key innovations:

Core Features

Rate Providers

• Concentrate liquidity around actual vault or asset share price
• Enable real-time price tracking for yield-bearing assets

Boosted Pools

• SyrupUSDC can be paired with Morpho USDC or Aave USDC
• Provides liquidity providers with additional APR on their position in perpetuity
• Delivers on average ~3.1% additional APR even in zero-swap environments (for a 50/50 SyrupUSDC/USDC Morpho/Gauntlet - 30d APY)
• Delivers on average ~1.5% additional APR even in zero-swap environments (for a 50/50 SyrupUSDC/USDC Aave - 30d APY)

Surge Fee Algorithm

• Dynamic fees based on peg stability
• Super efficient StableSwaps with higher concentration capabilities

Simulation

Via Balancer, 907,277.28 SyrupUSDC would exchange for 1,000,000 USDC with an A factor of 2,000, given current rate of 1.10177 (source).

Uniswap screenshot

Uniswap screenshot

Balancer StableSurge Tool Screenshot