ChainCatcher reports that a New York federal court has dismissed a patent infringement lawsuit filed by an entity associated with the Bancor protocol against Uniswap. The judge ruled that the patent in question relates to an abstract concept of cryptocurrency exchange rate calculation, which is not eligible for patent protection under US patent law. The judge rejected the plaintiff's argument that implementing a pricing formula on blockchain infrastructure made it patentable, stating that merely restricting an abstract concept to a specific technological context does not qualify it for patentability. The plaintiff has 21 days to file an amended complaint.
Uniswap founder Hayden Adams briefly stated on social media that a lawyer had just informed them of the victory.
