The Cayman Islands court has prohibited Maple Finance from launching its yield-bearing Bitcoin product syrupBTC due to allegations from Core Foundation that it violated an exclusivity agreement. Although Maple denies the allegations and claims syrupBTC was developed independently, this case demonstrates that DeFi products need to comply with real-world legal contracts.
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The Cayman Islands court has prohibited Maple Finance from launching its yield-bearing Bitcoin product syrupBTC due to allegations from Core Foundation that it violated an exclusivity agreement. Although Maple denies the allegations and claims syrupBTC was developed independently, this case demonstrates that DeFi products need to comply with real-world legal contracts.