Maple Finance Blocked from Launching syrupBTC After Legal Dispute with Core Foundation
Maple Finance is facing a legal roadblock after the Core Foundation, the organization behind the Bitcoin-backed Core blockchain, accused the platform of breaking confidentiality and exclusivity rules tied to their Bitcoin yield partnership.
The Grand Court of the Cayman Islands has issued an injunction stopping Maple from launching its new product, syrupBTC. Core Foundation says Maple misused confidential information and broke an exclusivity agreement while developing a rival token. Maple denies all wrongdoing.
Conflict Over Bitcoin Yield Products
Maple and Core Foundation teamed up earlier in 2025 to launch lstBTC, a liquid staked Bitcoin product for institutional investors. Core claims Maple started using inside information and resources to build syrupBTC, a direct competitor, even though a 24-month exclusivity clause was in place.
The court agreed there’s a serious issue to be addressed, noting that monetary damages wouldn’t be enough. Core argued that Maple could unfairly gain an advantage or mishandle CORE tokens if the injunction wasn’t granted.
Restrictions Imposed
Under the court order, Maple cannot launch or promote syrupBTC, use Core Foundation’s confidential information, or deal in CORE tokens without permission while the legal case is ongoing.
Shortly after the injunction, Core raised concerns that Maple tried to declare an impairment worth millions of dollars against lenders in its Bitcoin Yield product, which could affect clients’ assets. Core says the Bitcoin was supposed to be held with trusted custodians and questions why Maple believes it can touch those funds.
Core Foundation has warned it will continue legal action as needed to protect its community. Maple, meanwhile, insists the dispute is limited to its pilot program and denies the allegations.
Changes to Maple’s Token Model
Amid the legal dispute, Maple has also changed the way its SYRUP token works. Staking rewards were stopped, and a new system was introduced where 25% of protocol revenue goes to a Syrup Strategic Fund, which buys back tokens and injects liquidity as needed.
