Maple Finance holds $4.6 billion AUM despite 73% token decline

Maple Finance is attracting analysts’ attention despite a sharp decline of 73% in its native token. While the broader DeFi lending sector remains under pressure, the protocol has managed to keep its assets under management stable at $4.61 billion. One analyst concludes that the project’s fundamentals remain strong and views the price decline as a potential buying opportunity.

In brief:

• Maple Finance outperforms the DeFi lending sector by 24.2 points, while the token is down 73%
• Fee income in 2026 is already almost at the level of all of 2025
• Active loans reach a record of $1.84 billion

Token declines while platform grows

The analyst behind the X account Darkfost_Coc looks into Maple Finance’s figures and argues that the 73% token decline does not align with the protocol’s underlying performance. Despite the bear market and the weak DeFi sector, Maple has managed to maintain its assets under management.

Compared with the DeFi lending sector as a whole, Maple outperforms by 24.2 index points this quarter, according to data from GLC Research and DefiLlama. This is striking, especially since competitors are losing ground over the same period.

Record loans and income almost at 2025 level

In terms of active loans, Maple sets a new record. Outstanding loan volume reaches $1.84 billion, a level that according to the analyst can rival major names such as Aave. The yields Maple offers are therefore competitive within the DeFi sector.

The income figures also stand out. In 2026, total fees have already risen to $70.8 million, with $8.9 million in net income. This brings the platform close to its level for all of 2025, while the year is not yet over.

The quarterly figures show that assets under management remained stable between Q1 and Q2 2026 at approximately $4.6 billion, while active loans rose in Q2 2026 to the record level of $1.84 billion. According to the analyst, the revenue decline visible in the chart is temporary and is related to the way interest is collected on new loans.

New buyback system based on revenue

In addition to the operational figures, a structural change has also been implemented. Through proposal MIP-021, Maple Finance has revised the buyback model for its native token. The system now works with three tiers, depending on the net revenue the protocol generates.

With net revenue below $1.5 million, 10% goes to buybacks. Between $1.5 million and $2 million, this rises to 20%, and above $2 million, 30% of revenue is used to buy back tokens.

The analyst concludes that Maple Finance’s fundamentals are strong and views the current token decline as a difference between market sentiment and the protocol’s actual performance. Whether the price will eventually close that gap remains uncertain. The Maple token is based on the Ethereum network, which is itself also under pressure and is trading at $2.400 at the time of writing.