Bancor sues Uniswap for infringing on DEX smart contract technology patent

Foresight News reported that Bancor is suing Uniswap for infringing on its DEX smart contract technology patent. Bancor claims that Uniswap infringed on its 2017 patent, which covers the core structure of automatic on chain token exchange without the need for a centralized intermediary. The amount of compensation demanded in the lawsuit is unknown. The lawsuit was filed by the Bprotocol Foundation, a non-profit organization that supports the development of the Bancor protocol, and LocalCoin Ltd., the original developer of Bancor. The lawsuit has been filed in the Southern District Court of New York, alleging that the Uniswap protocol is built upon Bancor's patented Constant Product Automated Market Maker (CPAMM) infrastructure.