COW vs SYRUP
CoW Protocol and Maple Finance scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
COW scores 167 of 250 and ranks 9th of 251. SYRUP scores 168 and ranks 8th. SYRUP leads by 1 points, which is inside the range where the individual variables matter more than the total. COW takes 10 of the 25 variables, SYRUP takes 7, and 8 are level.
3 variables separate them by 3 points or more. COW is clear on Vesting Schedule (9 against 6). SYRUP is clear on TVL Trend (9 against 5) and Real Staking Yield (7 against 4).
COW still has 42.6% of its eventual supply to enter circulation against 6.2% for SYRUP. On the same market capitalisation, a buyer of COW is taking the 1.74x dilution path and a buyer of SYRUP the 1.07x one.
SYRUP is valued at $268.1M against $82.3M for COW, a 3.3x difference. The larger of the two also scores higher, so the market and the framework agree on the ordering here.
COW trades 93.5% below its all-time high and SYRUP 64.9% below its own. Recovering the high needs 15.4x from COW and 2.8x from SYRUP, which is the same statement read as the return each one has to produce.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 7 | 7 | level | |
| Revenue Trend | 7 | 7 | level | |
| P/S Multiple | 8 | 7 | COW +1 | |
| Real Staking Yield | 4 | 7 | SYRUP +3 |
Supply
| Supply Inflation | 8 | 6 | COW +2 | |
| Vesting Schedule | 9 | 6 | COW +3 | |
| Circulating / FDV Ratio | 7 | 9 | SYRUP +2 | |
| Buyback and Burn | 7 | 9 | SYRUP +2 |
Ownership
| Smart Money Flows | 7 | 7 | level | |
| Insider Selling | 7 | 7 | level | |
| Holder Concentration | 6 | 5 | COW +1 |
Traction
| TVL Trend | 5 | 9 | SYRUP +4 | |
| Active Users | 7 | 5 | COW +2 | |
| Developer Activity | 7 | 6 | COW +1 | |
| Network Growth | 7 | 7 | level |
Position
| Market Share | 6 | 7 | SYRUP +1 | |
| Competitive Moat | 8 | 7 | COW +1 | |
| Institutional Adoption | 7 | 8 | SYRUP +1 | |
| Exchange Depth | 5 | 4 | COW +1 | |
| Social Mindshare | 5 | 5 | level |
Risk
| Regulatory Safety | 7 | 6 | COW +1 | |
| Catalyst Calendar | 7 | 7 | level | |
| BTC Alpha Potential | 3 | 5 | SYRUP +2 | |
| Team Execution | 8 | 8 | level | |
| Treasury Runway | 8 | 7 | COW +1 |
Bars read outward from the centre: COW to the left, SYRUP to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| COW | SYRUP | |
|---|---|---|
| Price | $0.1433 | $0.2295 |
| Market cap | $82.3M | $268.1M |
| Circulating | 57.4% | 93.8% |
| Dilution to full supply | 1.74x | 1.07x |
| Off all-time high | -93.5% | -64.9% |
| To recover the high | 15.4x | 2.8x |
| Total value locked | $367.3K | $2.50B |
| Network | Ethereum | Ethereum |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
COW · HOLD
Burn proposal (60-85M COW), chain expansion (10 chains), Aave integration, xStocks tokenized equities
CoW AMM collapsed (-98% TVL), thin exchange volume (about $1.3M to $1.7M a day), market share declining from peak, DNS hijack Apr 2026
SYRUP · HOLD
$100M ARR target 2026, 25% revenue buybacks, institutional DeFi lending leader
Credit default risk (2022 FTX/Alameda losses), Core Foundation dispute settled May 2026, ARR is projection not achieved
Common questions
- Is COW or SYRUP the better investment?
- On this framework SYRUP scores higher: 168 against 167 of 250, and it is rated HOLD against HOLD. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and COW still wins 10 of the 25 individual variables against SYRUP.
- What is the biggest difference between COW and SYRUP?
- TVL Trend. COW scores 5 of 10 there and SYRUP scores 9, a gap of 4 points on a single variable.
- Which is bigger, COW or SYRUP?
- COW is valued at $82.3M and SYRUP at $268.1M on the latest market snapshot.
Related comparisons
Keep reading
Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.