Unicoin sues Uniswap Labs, seeks to cancel UNI registration

TransparentBusiness Inc., which does business as Unicoin, sued Universal Navigation Inc., which does business as Uniswap Labs, in the Southern District of New York, seeking declarations that its UNICOIN mark does not infringe or dilute Uniswap’s claimed marks.

TransparentBusiness argued in a complaint filed Tuesday that its UNICOIN mark does not infringe or dilute Uniswap’s claimed UNI, UNISWAP and UNICHAIN marks. It also asked the court to cancel US trademark registration for UNI.

The complaint says Uniswap’s counsel sent three demand letters on June 3, July 17 and Aug. 14, accusing Unicoin of trademark infringement, dilution, cybersquatting and unfair competition, and threatening further legal action. The letters demanded that Unicoin stop using UNICOIN and other UNI-formative marks, transfer its unicoin.com and unicoin.org domains, provide an accounting of revenue and profits, and reimburse Uniswap’s legal fees.

The complaint also seeks a declaration that unicoin.com and unicoin.org domains do not violate the federal Anti-Cybersquatting Consumer Protection Act.

Cointelegraph has approached Uniswap for comment on the lawsuit.

At the time of writing, DeFiLlama ranked the Uniswap protocol first among decentralized exchanges by 24-hour volume, with more than $3.9 billion.