A major controversy has emerged in the world of decentralized finance. In which Bancor Uniswap But, making serious allegations of using Iligal of his patent technology, he has filed a case in a Federal Court in New York. This case is BPROTOCOL BASE and Localcoin Ltd. The original developers of Bancor and its owner rights are filed by.
BANCOR claims that he had invention of Consentant Product Computerized Marketplace Maker (CPAMM) technology in 2016 and also patented it in 2017. Through this technology, trading was fully automated and on-chain, which was a major innovation for the Defi industry. But Uniswap launched its protocol in November 2018 using this technology without any permission or license.
Bancor’s charge, “Using without permission for 8 years Uniswap”
Bancor’s Project lead Mark Richardson said in a statement that Uniswap is constantly using their patent technology without permission and on the basis of this, on the basis of this. He said, “When an organization uses our technology without our permission and competition with us, we have to take action.”
Richardson believes that if this type of copying continues without any furnishment, it can interplete the speed of innovation throughout the Defi industry. Bancor said that he had first implemented this technology and Uniswap has taken advantage of it. He says that UNISWAP team never took rights, partnership or license to use this technology.
Big twist for defi, Uni Worth Decline in
The impact of this dispute was also directly seen in the market. As soon as this news came out, Uniswap’s token UNI fell to 4-5%. This decline is an indication that investors are concerned about the case and its result may affect the reputation and future projects of UNISWAP. However, till the news is written, its price is increasing and currently it is trading at $ 6.31, with an increase of 5.45% in the last 24 hours.
According to Bancor, his 2017 whitepaper and patent are evidence that he first developed this technology and now he is demanding fair compensation from the court. Defi industry experts are looking at the case like a turning point, where it will be decided whether the patent law will be taken in the world of blockchain and the web3.
Conclusion
This legal conflict between Bancor and Uniswap is not only a dispute between two protocols, but it can become an important example for the entire Defi and Web3 Space. While there is a culture of open-source and independent development, on the other hand, the safety of innovation and its rights are equally important.
If the court gives a verdict in favor of Bancor, a new wave of following the patent law in the Defi space can begin. At the same time, if Uniswap gets relief, it can indicate that technology sharing between open protocols is still valid and accepted. At the moment, the entire industry’s eyes are on the trial.
