Planned migration of Maple (MPL) to Syrup (SYRUP)

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In August 2024, Maple Finance announced their intention to replace the existing Maple (MPL) token with a new token, called SYRUP, this November and to allow all existing MPL holders to convert to SYRUP at a fixed rate of 1 MPL : 100 SYRUP.

We supported this migration on behalf of Kraken clients by delisting MPL, converting all MPL on our platform to SYRUP, and then distributing that SYRUP back to eligible users at the same rate of 1 : 100.

The SYRUP redemption rate and the contract to redeem SYRUP are both independently provided by Maple Finance.

At 14:00 PM UTC on November 6, 2024 we delisted all MPL markets (MPL/USD, MPL/EUR) on Kraken, and deposits and withdrawals for MPL were closed. Please note that any deposits of MPL made after this date will be lost.

Any clients holding MPL at the time of the delisting were automatically included in the redemption process, no further action by you was required.

One week later, on November 13, 2024, SYRUP launched publicly. Once SYRUP launched, we distributed SYRUP to eligible users who held MPL at the time of delisting on November 6, 2024, at the fixed redemption rate of 1 MPL : 100 SYRUP. Upon completion, the commensurate amount of SYRUP was deposited directly into your Kraken account.

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