Core accuses Maple of using cooperative information to promote competing products, and the court issued an injunction to stop syrupBTC

According to The Defiant, a court in the Cayman Islands issued an injunction this week to prevent Maple Finance from launching its yield-bearing Bitcoin product syrupBTC, highlighting the gap between DeFi products and traditional legal frameworks. Core Foundation accused Maple of breaching an exclusivity agreement by using information obtained during their collaboration on IstBTC to create a competing product, syrupBTC.

Maple manages over $3 billion in assets and denies any wrongdoing, stating that syrupBTC was developed independently and that it will return 85% of the principal to BTC Yield lenders, with the remaining 15% to be released after the legal dispute is resolved.

Experts point out that this case shows that even decentralized blockchain products must comply with real-world contracts and laws. Block Street CEO Hedy Wang stated: off-chain contracts are still important; DeFi is not a lawless territory. Axelar legal advisor Jason Rozovsky emphasized that assets should be stored in a bankruptcy-remote manner to protect user rights.