Odaily Planet Daily News The developers behind Bancor have filed a patent infringement lawsuit against Uniswap Labs and the Uniswap Foundation, accusing them of illegally using their underlying decentralized trading platform technology. The lawsuit was filed by the non-profit organization Bprotocol Foundation that supports the development of the Bancor protocol and LocalCoin Ltd., the original developer of Bancor. It has been submitted to the U.S. District Court for the Southern District of New York, accusing the Uniswap protocol of being built on Bancor's patented constant product automated market maker (CPAMM) infrastructure.
Bancor said that it developed a decentralized trading mechanism without an order book in 2016 and applied for related patents in 2017. Uniswap has continued to use this technology since its launch in 2018, and the failure to protect intellectual property rights is crucial to the DeFi innovation ecosystem. If the core technology is used without authorization, it will have a negative impact on the development of the industry. (The Block)