PANews reported on May 20 that according to The Block, the Bprotocol Foundation and LocalCoin, the developers of the decentralized exchange Bancor, filed a lawsuit in the Federal Court for the Southern District of New York, accusing Uniswap Labs and the Uniswap Foundation of infringing their automatic market maker (AMM) technology patents. The lawsuit pointed out that Uniswap used the constant product market maker (CPAMM) model first created by Bancor in 2016 without authorization. The technology has been granted two US patents.

Mark Richardson, head of the Bancor project, said that Uniswap has continued to use its patented technology to make profits since its launch in 2018, and this lawsuit is aimed at maintaining an innovative environment for the entire DeFi ecosystem. Uniswap has not yet responded to requests for comment. The amount of the claim in this case has not been disclosed, and it may become the first major patent dispute in the DeFi field.