Bancor files patent infringement lawsuit against Uniswap over DEX tech
Bancor is suing Uniswap for patent infringement, claiming Uniswap has used its technology without permission and profited from it. Bancor developed the "constant product automated market maker" technology in 2016 and patented it in January 2017, leading to two issued patents. The lawsuit alleges Uniswap utilized this invention to create its protocol launched in November 2018. Bancor seeks compensation for Uniswap's unlicensed use of its patented technology and claims Uniswap Foundation induced infringement. Uniswap is significantly more successful in decentralized exchange (DEX) metrics, ranking second with nearly $3.8 billion in 24-hour trading volume, while Bancor ranks 142nd with $378,579. Bancor expresses concern that unchecked actions by companies like Uniswap could hinder innovation in the DeFi sector.
