Odaily Planet Daily News Decentralized exchange Bancor has filed a patent infringement lawsuit against Uniswap, accusing it of unauthorized use of Bancor's patented "Constant Product Automated Market Maker" (CPAMM) technology in 2017.
Bancor said the technology was designed in 2016 and patented in January 2017. The protocol launched by Uniswap in November 2018 was accused of using the invention. Mark Richardson, head of the Bancor project, said that Bancor must take action because Uniswap continues to use its invention without authorization and competes with Bancor.
The lawsuit has been filed in the United States District Court for the Southern District of New York, seeking compensation. As of press time, Uniswap has not responded publicly. According to DefiLlama data, Uniswap far exceeds Bancor in 24-hour trading volume. (Cointelegraph)