TransparentBusiness Inc., operating as Unicoin, filed a lawsuit against Universal Navigation Inc., known as Uniswap Labs, in the Southern District of New York. The plaintiff seeks a court declaration that its UNICOIN mark does not infringe or dilute the UNI, UNISWAP, and UNICHAIN trademarks held by Uniswap.
The legal action follows three demand letters sent by Uniswap’s counsel on June 3, July 17, and August 14. In these letters, Uniswap accused Unicoin of trademark infringement, dilution, cybersquatting, and unfair competition. The company demanded that Unicoin cease using its marks, transfer the unicoin.com and unicoin.org domains, and cover legal expenses.
Unicoin is also requesting that the court cancel the US trademark registration for UNI. Furthermore, the company seeks a declaration that its domain names do not violate the federal Anti-Cybersquatting Consumer Protection Act. The lawsuit was initiated shortly before the scheduled September 28 public launch of the UNCN token.
According to DeFiLlama, the Uniswap protocol currently holds the top position among decentralized exchanges by 24-hour trading volume, which exceeds $3,9 billion.
