Uniswap Faces Legal Heat From Bancor Over AMM Patent Claims
Bancor was once one of the biggest names in crypto. In 2017 it raised $153 million, one of the largest ICOs of that time, with a promise to change how tokens could be traded.
But only a year later, Uniswap launched with a far simpler design and quickly became the main place for token swaps.
Now Bancor has taken Uniswap to court, starting a legal fight (patent war) that could decide if this is about protecting ideas or just payback.
How It All Started Between Bancor and Uniswap
When Bancor launched in 2017, it was called a game-changer. It introduced Smart Tokens with built-in reserves, and its own token, BNT, was placed in the middle of every trade.
Prices were set by math formulas, but the process was not simple. People had to wrap tokens, hold BNT, and trust the system to manage risks. The design was complex, and for many users, confusing.
In 2018, Uniswap arrived with a much easier system. Instead of Smart Tokens, it used...