Upbit, a leading digital asset exchange based in South Korea, has announced the listing of a new cryptocurrency. Maple Finance’s native token, SYRUP, will be available for trading in KRW, BTC, and USDT pairs, the company announced on July 25.
Upbit Launches Trading Support for Maple Finance (SYRUP) in KRW, BTC, and USDT
Transaction and Transfer Schedule
- Trading Start: July 25th at 15:00
- Network Support: Ethereum (ERC-20)
- Entry/Exit Opening: Will be active within 3 hours after the announcement.
Officials emphasized that users will only be able to deposit and withdraw SYRUP via the Ethereum network. Transactions made via other networks will not be supported.
Trade Restrictions
Upbit announced that it will be rolling out tiered transaction support for SYRUP transactions:
- Buy orders cannot be placed in the first 5 minutes.
- In the first 5 minutes, no sell order will be placed 10% below the previous day’s closing price.
- During the first 2 hours, only limit orders will be processed.
As of 11:10 on July 25, SYRUP’s market prices were reported as follows:
- KRW: 674.51
- BTC: 0.00000417 BTC
- USDT: 0.4864
What is SYRUP Token?
Maple Finance is a decentralized finance (DeFi) lending protocol that leverages liquidity from individual investors by lending to institutional investors who provide collateral. The SYRUP token is used in this protocol for both governance participation and staking purposes.
Security and Legal Notices
Upbit urged users to review the project’s detailed documentation and verify network integrity before investing. It also noted that refunds from investments made on the wrong network may take a long time. It also reminded users that only “verified ownership” wallet addresses will be allowed to enter and exit.
Investors have been warned that the digital asset market is prone to high volatility, regulatory uncertainty, and market fluctuations.
*This is not investment advice.
