Maple syrupUSDC
Live . ethereum . 0x80ac24aA929eaF5013f6436cdA2a7ba190f5Cc0b
What this vault advertises, against what it actually paid, measured from its own share price on chain over a 30 day window. Everything below is recomputed hourly and every figure on this page comes from the snapshot named at the bottom. Nothing here is typed by hand.
Advertised
none published
Realized
5.07%
30 day window
Gap
no claim to compare
this protocol advertises no yield figure.
What Maple published.
Maple publishes no yield figure we can record for syrupUSDC on a first-party surface, so this row carries a realized reading and no comparison. That is a description of what is published, not an accusation.
Recompute it yourself.
The realized figure is two calls and one exponent. Both calls are pinned to a block height, so they return the same values for you as they did for us, forever. Use any archive endpoint. We deliberately do not name one: a reproduction that runs on our RPC is not a reproduction.
The call
Chain
ethereum
Contract
0x80ac24aA929eaF5013f6436cdA2a7ba190f5Cc0b
Method
convertToAssets(uint256)
Argument
1000000 (one whole syrupUSDC share, 6 decimals)
eth_call data
0x07a2d13a00000000000000000000000000000000000000000000000000000000000f4240
Returns
USDC, 6 decimals
The argument is one whole share in the SHARE token's own decimals, which is not always eighteen. Kerne's own skUSD reports twenty four, so calling it with 1e18 returns a millionth of the right answer. Ask the vault for its decimals rather than assuming, exactly as our collector does.
At the start of the window
Block
25857068 (0x18a8c2c)
Timestamp
1787960219 (2026-08-28 23:36 UTC)
Share price returned
1.180456
At the end of the window
Block
26072107 (0x18dd42b)
Timestamp
1790552219 (2026-09-27 23:36 UTC)
Share price returned
1.185261
Start of window, cast
RPC_URL=... cast call 0x80ac24aA929eaF5013f6436cdA2a7ba190f5Cc0b "convertToAssets(uint256)(uint256)" 1000000 --block 25857068 --rpc-url "$RPC_URL"End of window, cast
RPC_URL=... cast call 0x80ac24aA929eaF5013f6436cdA2a7ba190f5Cc0b "convertToAssets(uint256)(uint256)" 1000000 --block 26072107 --rpc-url "$RPC_URL"Start of window, raw JSON-RPC
{"jsonrpc":"2.0","id":1,"method":"eth_call","params":[{"to":"0x80ac24aA929eaF5013f6436cdA2a7ba190f5Cc0b","data":"0x07a2d13a00000000000000000000000000000000000000000000000000000000000f4240"},"0x18a8c2c"]}End of window, raw JSON-RPC
{"jsonrpc":"2.0","id":1,"method":"eth_call","params":[{"to":"0x80ac24aA929eaF5013f6436cdA2a7ba190f5Cc0b","data":"0x07a2d13a00000000000000000000000000000000000000000000000000000000000f4240"},"0x18dd42b"]}Both calls return an integer in the smallest unit of USDC. Divide by 10 ** 6 to get the share price printed above. Set RPC_URL to any archive endpoint you trust.
The arithmetic
growth = 1.185261 / 1.180456
elapsed = 1790552219 - 1787960219 = 2592000 seconds
annualized = (growth ^ (31536000 / 2592000) - 1) * 100
= 5.0665% (0.407046% over the window)
Simple compounding at the observed rate, on a 365 day year. No fee assumption, no reinvestment assumption, no smoothing. If your arithmetic lands somewhere else, that disagreement is the finding and we want it: liam@kerne.fi.
Maple's right of reply.
Maple did not ask to be measured and has not sent a reply. This slot is open, free, permanent and published unedited, including a reply arguing that our method is wrong. Nothing is charged for it and nothing is offered in exchange.
The terms, and the form, are at the Right of Reply. If the disagreement is about arithmetic rather than framing, the faster door is the checker: send the two block heights and the two share prices you read, and the figure is corrected in public.
Context for this row.
Live and accruing, and the largest vault on this board. syrupUSDC is a genuine ERC-4626 vault denominated in USDC, so the quantity measured here is the same one every other row is measured on. The advertised column is empty for a specific and checkable reason rather than for lack of research: on 2026-08-08 Maple's own earn page rendered a single figure, "APY 4.6%", labelled against the combined product "syrupUSDC/USDT/USDG" and sitting beside a combined "AUM $3.66B". Maple publishes no per vault rate on that surface. Differencing one blended number against one vault's realized figure would state a gap, in whichever direction happened to fall out, against a claim Maple did not make about this vault, so we decline to state one. What we can show is that this vault and Maple's syrupUSDT vault, measured by identical code between the same two blocks, realized figures that differ by roughly seven tenths of a percentage point. That spread is the reason a blended rate is not checkable, and it is visible only because both rows are on this page.
This page measures one axis and one only: advertised yield against realized yield. It is not a rating, not an audit, and it says nothing about whether Maple is safe or whether its reserves are what it says they are. A protocol in an announced wind down paying nothing is behaving correctly. The reserve axis is a different page, at the reserve transparency scorecard.
Take this row with you.
This page
https://kerne.fi/honesty-index/maple-syrupusdcCitation
Kerne Honesty Index, 2026-09-27: Maple (syrupUSDC) advertised none published, realized 5.07% from on-chain share-price growth, gap no claim to compare (this protocol advertises no yield figure). Source: https://kerne.fi/honesty-index#row-maple-syrupusdcBadge, markdown
[](https://kerne.fi/honesty-index#row-maple-syrupusdc)Badge, HTML
<a href="https://kerne.fi/honesty-index#row-maple-syrupusdc"><img src="https://kerne.fi/honesty-badge.svg?row=maple-syrupusdc" width="360" height="112" loading="lazy" alt="Kerne Honesty Index: advertised versus realized yield"></a>Row in the API
https://kerne.fi/api/honesty-index/row/maple-syrupusdc
Where these numbers came from.
Snapshot generated
2026-09-27 23:37 UTC
Snapshot source
live store
Signature
verified, signer 0x84949170e0ad0f9bd8686a4aa4922c10f5fdc4ea
Row key
maple-syrupusdc
The signature is checked on every render rather than assumed from the presence of a field. A snapshot that does not verify is served with that said plainly instead of borrowing the word.
Board last read 2026-09-27. Every figure on this page is regenerated from https://kerne.fi/honesty-index and none of them is stored in this file.