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DEF Acquires Key Patent, Ending Lawsuits Against MakerDAO and Compound
Summary: The DeFi Education Fund (DEF) has acquired a pivotal patent from True Return Systems (TRS), bringing an end to the high-profile lawsuits against MakerDAO and Compound Protocol. The patent, which was approved in 2018, details a “method and system for separating storage and process of a computerized ledger for improved function.” This technology was at ...
The DeFi Education Fund (DEF) has acquired a pivotal patent from True Return Systems (TRS), bringing an end to the high-profile lawsuits against MakerDAO and Compound Protocol. The patent, which was approved in 2018, details a “method and system for separating storage and process of a computerized ledger for improved function.” This technology was at the heart of TRS’s legal claims, which alleged that both MakerDAO and Compound infringed on the patent by using similar systems to link off-chain data to blockchain technology—a key component of oracle technology.
The acquisition by DEF has resulted in the immediate dismissal of the lawsuits, which had been ongoing since late 2022. Amanda Tuminelli, Chief Legal Officer at DEF, announced that the patent will be dedicated to the public, ensuring it cannot be weaponized against other blockchain projects. This move is consistent with DEF’s mission to protect the open-source ethos of the blockchain community.
TRS had previously attempted to monetize the patent by listing it as an NFT on OpenSea for up to 2,250 WETH (approximately $6 million), but the effort did not yield significant offers. The resolution of these lawsuits marks a significant victory for the DeFi space, reinforcing the importance of keeping foundational technologies like oracles accessible to all. With TRS voluntarily dismissing the suits, the DeFi community can continue to innovate without the looming threat of patent litigation.
Tags: DeF,DeFi,MakerDAO,TRS
Link: DEF Acquires Key Patent, Ending Lawsuits Against MakerDAO and Compound [Copy]
