Maple Finance MPL (MPL): tokenomics, risks and score
The predecessor governance token of Maple Finance, which was migrated into a successor token as part of a protocol restructuring.
What Maple Finance MPL is, and what it does
This is a real world asset. It represents something that exists outside the blockchain, such as government debt, property or a commodity, held by a custodian and recorded on chain.
What the MPL token itself does: It receives a share of the fees the protocol collects, so holding it is a claim on real revenue.
Where it runs: Ethereum. Mechanism: Predecessor governance token, migrated. It has been running since 2021, so roughly 5 years.
The facts
- TICKER
- MPL
- SECTOR
- Real world assets
- CHAIN
- Ethereum
- LAUNCHED
- 2021, so around 5 years of operating history
- MECHANISM
- Predecessor governance token, migrated
- MAXIMUM SUPPLY
- 10 million
- VALUE CAPTURE
- Fee share
- UPGRADE CONTROL
- DAO governed
- VESTING
- Complete
- LIQUIDITY BAND
- Micro cap. Thin, often a single venue or pool. Treat the quoted price as indicative only.
How the score breaks down
Each dimension is explained on the directory page, and the reasoning behind it is taught in the Academy research process.
Supply and value capture
A hard maximum supply that cannot be raised without the agreement of essentially every participant. A share of protocol fees reaches holders directly, which is the strongest form of value capture available.
Changes go through token holder governance, so control is distributed but influenced by whoever holds most. Ownership is moderately concentrated. A handful of large holders could move the market.
Where it is strong and where it is not
- The successor protocol continues to operate with stricter underwriting
- This token was superseded and migrated into a successor
- Its era included borrower defaults that caused real lender losses
- No ongoing role for this specific token
- Anyone holding it should verify they have migrated
Incident history
No major exploit, collapse or regulatory action on record against this asset.
Our read
The main risk
This token was superseded by a migration. Holders should confirm they hold the current asset.
Before you buy anything
Check the contract address against the project's own documentation rather than a search result or a screener link, since impersonation tokens with identical names and logos are listed constantly. Check the order book depth before assuming you can exit at the quoted price. And write down what would make you wrong before you buy, not after. The Academy thesis module covers why that single habit protects more capital than any indicator.