Core Foundation Wins Cayman Court Injunction Against Maple Finance

Quick Breakdown

• Core Foundation has obtained a restraining order from the Grand Court of the Cayman Islands due to Maple Finance’s suspected breach of their exclusive partnership agreement. 
• Accusations include misuse of confidential information and the development of a competing product. 
• Core Foundation also questions Maple Finance’s operations following asset impairment announcements.

 

Core Foundation takes legal action over Maple Finance violations.

The Core Foundation successfully secured an injunction from the Cayman Islands Grand Court against Maple Finance, which is accused of violating the confidentiality and exclusivity clauses of their 24-month cooperation agreement initiated in 2025. 

According to the Core Foundation , Maple Finance unlawfully utilized sensitive information shared during the collaborative development of the lstBTC product to create competing offerings. The court recognized significant issues requiring adjudication in this dispute.

— Core DAO 🔶 (@Coredao_Org) November 19, 2025

Since the partnership’s inception, Core Foundation has invested heavily in product development, marketing, and subsidies. Maple Finance’s alleged breach has cast doubt on the integrity of the partnership and raised red flags about its business conduct.

Core Foundation has obtained an injunction from the Cayman Islands court against Maple Finance, alleging a breach of a 2025 partnership agreement. The core of the dispute is Core Foundation’s claim that Maple misused confidential information during a 24-month exclusivity period to develop a competing BTC yield product, “syrupBTC.”

The controversy also involves over $150 million in lender BTC from the 1st BTC pilot program. Core Foundation asserts these assets were intended to be bankruptcy-remote.

In response, Maple Finance acknowledges the allegations but maintains that the injunction has no broader operational impact. Maple attributes potential lender impairments to Core Foundation’s termination of the partnership.

The community has been critical of Maple Finance, calling for transparency on the evidence against Core and demanding third-party custody verification. This incident highlights ongoing tension within DeFi partnerships concerning intellectual property, resource allocation, and competition in the yield product market.

Meanwhile, Maple Finance’s yield-bearing stablecoin, syrupUSDC, is now usable as margin collateral for perpetual futures trading on Drift Protocol. This expansion allows traders to leverage syrupUSDC, which offers a steady 7–8% APY backed by Maple’s regulated lending, to offset negative funding rates. The move includes a $100,000 incentive program, reinforcing Maple’s strategy to scale its lending within the high-volume derivatives market.

 

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