A significant dispute has erupted in the DeFi lending space, pitting institutional-focused firm Maple Finance against its former partner, Core Foundation. At the heart of the conflict lies an alleged breach of an exclusivity agreement concerning a co-developed Bitcoin (BTC) yield product, leaving both parties entangled in a public and legal battle.
The Heart of the Conflict
Core Foundation claims a 24-month exclusivity agreement with Maple Finance was violated when Maple allegedly prepared a rival BTC yield product, syrupBTC, after they had jointly developed lstBTC. The lstBTC product, rolled out in April 2025, was designed to allow holders to earn yield while maintaining liquidity across DeFi platforms. Core Foundation alleges that Maple's subsequent actions constituted a breach of contract and involved the misuse of confidential data. In response, Core Foundation successfully obtained a restraining order against Maple Finance, underscoring the severity of the allegations.
Lenders in Limbo and Maple's Defense
The unfolding feud has significant implications for lenders who initially funded lstBTC with $150 million in Bitcoin. Core Foundation has voiced strong concerns, stating that Maple Finance has failed to reimburse these lenders and questioning why the funds are being withheld. Meanwhile, Maple Finance vehemently denies any wrongdoing. The firm has publicly blamed Core Foundation for acting against lender interests and has vowed to aggressively pursue all available remedies, asserting that Core Foundation should be held responsible for the consequences of its actions. The resolution of this high-stakes dispute, and particularly the fate of the initial BTC lenders, remains uncertain as legal proceedings continue.
