Bancor sued Uniswap for infringing its smart contract technology patent, but the court dismissed the case

The New York Federal Court dismissed the patent infringement lawsuit filed by entities associated with the Bancor protocol against Uniswap. The judge ruled that the relevant patents involve abstract concepts related to cryptocurrency exchange rate calculations, which do not qualify for patent protection under U.S. patent law. The court rejected the plaintiffs' argument that implementing a pricing formula on blockchain infrastructure made it patentable, stating that merely confining an abstract concept to a specific technological environment does not make it patentable. The plaintiffs have 21 days to submit a revised complaint.

Uniswap founder Hayden Adams briefly stated on social media that a lawyer just told us we won.