[Direct to AIP] Onboard syrupUSDG on Aave V4 Global Dollar Hub

Governance New Asset
1

[Direct to AIP] Onboard syrupUSDG on Aave V4 Global Dollar Hub

Author: Aave Labs
Date: 7/7/26

Summary

This proposal seeks to onboard syrupUSDG to the Global Dollar Hub on Aave V4, with collateral functionality enabled.

Motivation

syrupUSDG is a yield-bearing token from Maple Finance, launched on Ethereum on July 2, 2026 in partnership with Paxos and Global Dollar Network, the issuers of Global Dollar (USDG). Eligible users deposit USDG and receive syrupUSDG, a liquid, transferable token whose value reflects the returns it accrues over time.

Yield is generated through Maple’s institutional lending. Maple lends to vetted institutional borrowers on an overcollateralized basis, with over $22B in loans originated since 2022 and $4B in AUM. syrupUSDG operates through its own segregated legal entity, Maple USDG Segregated Portfolio 1, providing full legal separation from Maple’s other Syrup products and institutional pools. Loan, allocation, and reserve information is verifiable onchain through Maple’s Proof of Reserves.

Onboarding syrupUSDG as a collateral asset is aligned with Aave DAO’s long-term objectives in several ways:

  • It adds a yield-bearing USDG asset to the Global Dollar Hub, letting users to borrow against syrupUSDG while the underlying position continues to accrue yield from Maple’s institutional lending.

  • It deepens the utility of USDG within Aave, extending the Global Dollar Hub beyond the base stablecoin to its productive representations.

  • It strengthens Aave’s position as the primary onchain venue for Global Dollar Network assets and supports demand from institutional participants entering DeFi.

  • It expands the asset-base on an already existing Aave V4 Liquidity Hub, purpose-made for USDG-related assets.

Specification

Risk Parameters and final configuration will be updated by Risk Service Providers and ARFC will be updated accordingly.

Useful Links

Disclaimer

This proposal was prepared by Aave Labs in its capacity as a contributor to the Aave ecosystem. Aave Labs has no direct financial relationship with Maple Finance, Paxos, or any of their affiliates and has not received compensation from either party in connection with this proposal.

Next Steps

  1. Publish proposal to gather community and Service Providers feedback.

  2. Publish an AIP vote for final confirmation and enforcement of the proposal.

Copyright

Copyright and related rights waived under CC0

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