Maple Finance's governance token $SYRUP has declined 48.6% over the past four weeks, underperforming both Bitcoin and Ether during the same period. The drop coincides with a contraction in Maple's total value locked (TVL), which fell to $2.22 billion from $2.71 billion reported on Oct. 19. Despite the significant price decline of the governance token, Maple clarified that the drop does not represent a corresponding loss for users holding assets within its lending products. The divergence highlights the distinction between governance token valuation and the underlying protocol's product performance.