DeFi Education Fund Acquires Patent to Shield Crypto Firms from Lawsuits
CryptoNewsTerminal Staff12 Aug, 2024
DeFi Education Fund Acquires Patent to Shield Crypto Firms from Lawsuits
The DeFi Education Fund (DEF) has acquired a patent from True Return Systems (TRS) to protect cryptocurrency firms from lawsuits related to price oracles. The move comes after TRS filed lawsuits against Compound and MakerDAO in October 2022, claiming that they infringed on its patent for a process that brings price oracles from off-chain to on-chain. DEF filed an amicus brief with the court, arguing that "the TRS patents are invalid as obvious." As part of the agreement, TRS has agreed to dismiss its lawsuits against MakerDAO and Compound. The patent in question relates to the separation of data storage and processing into stackable modules and an oracle-like system for linking them. DEF stated that it is making the patent publicly available to prevent future similar lawsuits. The acquisition of the patent by DEF is a significant development that could help to protect the cryptocurrency industry from frivolous lawsuits. ```
