A Cayman Islands court has issued an injunction preventing Maple Finance from launching its new bitcoin product, syrupBTC, following a legal challenge. The Core Foundation claims Maple used confidential information from their joint development of IstBTC to create syrupBTC, allegedly breaching an exclusivity agreement. Maple, which oversees over $3 billion in assets, refutes these claims, asserting syrupBTC was independently developed. The company plans to return 85% of principal to BTC yield lenders, with the remaining 15% contingent on the legal outcome. Industry leaders stress the importance of DeFi products adhering to legal contracts and ensuring asset protection.
Cayman Court Halts Maple Finance's syrupBTC Launch Amid Legal Dispute
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