**[Maple Finance Denies CORE Foundation Allegations and Takes Legal Action]**
Maple Finance has responded to recent allegations from the CORE Foundation regarding the BTC Yield Program and syrupBTC product, firmly denying the accusations and stating that they distort the facts. Maple clarified that the BTC Yield Program is operated by an independent entity, with assets segregated from its overall business operations. Due to the decline in the value of CORE tokens, Maple has initiated risk control measures, planning to orderly liquidate CORE tokens to safeguard lenders' principal. However, the liquidation plan has been obstructed due to legal action initiated by CORE.
Maple emphasized that the syrupBTC product was independently developed without using CORE's confidential information and has filed a lawsuit to enforce the hedging agreement signed by CORE. Maple will return 85% of the principal to BTC Yield Program lenders, with the remaining portion to be distributed after legal resolution. Additionally, the program is isolated from other products and does not impact other business operations.
Previously, the Cayman Islands court issued an injunction against Maple Finance to prevent alleged breaches of contract.