Bancor files patent infringement lawsuit against Uniswap

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