Bancor has filed a patent infringement lawsuit against Uniswap Labs and the Uniswap Foundation, raising concerns across the decentralized finance (DeFi) sector.
Bancor Accuses Uniswap of Unauthorized Use of Technology
Bancor’s nonprofit arm, Bprotocol Foundation, and LocalCoin Ltd. have jointly filed a lawsuit against Uniswap. The legal complaint was submitted to the U.S. District Court for the Southern District of New York.
According to the filing, Uniswap Labs and the Foundation are accused of using Bancor’s patented constant product automated market maker (CPAMM) technology without permission. Bancor claims the technology was invented in 2016 and is central to how decentralized exchanges operate without centralized order books.
The developers behind Bancor stated that they filed a U.S. provisional patent application in January 2017. The filing reportedly led to two granted patents covering the CPAMM structure, which Bancor says powers its automated token swaps onchain.
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Kelvin Munene Murithi
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