- The Bancor protocol is looking for compensation from Labs Uniswap to use its licensed technology over the past eight years.
- The UniswAP Labs team is likely to argue that smart contract algorithms are different.
BPRotocol and Localcoin Ltd. , Which focuses on the Welfare of the Banco Protocol, a lawsuit in the American District Court of the Southern Region in New York vs. UISWAP LABS (UNI). According to the announcement, the lawsuit seeks to force the UniswAP Labs to compensate the Bancor network to use its algorithm technology used to enable decentralized exchanges over the past eight years.
“The patented Bancor technology is one of the most important innovations in Blockchain, and we are exceptionally proud of the role he played in a revolution in the world of decentralized financing. By making decentralized stock exchanges a reality, the Bancor invention has changed forever from innovation, to some extent, innovation has been eliminated. male.
The PanisWAP Protocol team accused the UNISWAP laboratories of taking advantage of their invention without authorization, partnership or profit exchange. Hayden Adams, founder of the UISWAP protocol, reduced the lawsuit as baseless.
“Perhaps something I have seen at all. I look forward to not thinking about this again until one of the lawyers tells me that we won,” Hayden male.
The market effect of the Paniswap protocol case
A patent violation lawsuit against UISWAP laboratories may have negatively affecting other decentralized exchanges in the United States if the Bancor protocol wins the case. However, the uniswap labs is in a good position to fight the case and may argue that algorithms used in their four versions differ from what Bancor patents claim.
Moreover, the UNISWAP protocol has evolved over the years to enable users to provide liquidity in decentralized hooks, which are not original for the Bancor protocol.
