syrupUSDC is a yield-bearing wrapper token for USDC, deployed on Base at address 0x660975730059246a68521a3e2fbd4740173100f5. It functions as a liquid yield derivative, where each token represents one underlying USDC plus accrued interest, which is reflected in its current price of approximately $1.17. While the specific issuing protocol is not detailed in the provided data, the token operates as a standard yield-bearing instrument designed to capture and compound returns from underlying USDC deployments.
The token is actively utilized in Pendle markets, primarily on Ethereum, where it serves as the underlying asset for multiple principal and yield token positions maturing throughout 2025. These markets demonstrate significant TVL and are structured around yield harvesting programs. On Base, syrupUSDC maintains a dedicated Aerodrome liquidity pool paired with native USDC, though current pool liquidity remains modest.
As a cross-chain yield instrument, syrupUSDC enables yield tokenization and structured trading across different networks, allowing users to separate principal and yield components for more granular yield strategies.