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Bancor Files Patent #Lawsuit Against #Uniswap Over #DEX Technology
Bancor developers have sued Uniswap Labs and Foundation for allegedly infringing on their patented constant product automated market maker (#CPAMM) technology.
Bprotocol Foundation and LocalCoin Ltd. claim Uniswap's protocol unlawfully uses their foundational #DEX infrastructure developed in 2016.
The lawsuit, filed in New York federal court, alleges Uniswap launched in November 2018 using Bancor's patented design without authorization.
"When an organization continuously uses our invention without authorization and does so as a means of competing with us, we must take action," stated Bancor project lead Mark Richardson.
The plaintiffs are seeking unspecified damages for the alleged patent violations dating back eight years.
