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DeFi Education Fund
@fund-defi
🚨🚨🚨Today, DEF is excited to share that we have resolved all disputes related to the patent claiming invention of oracle-like technology owned by True Return Systems (TRS).
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DeFi Education Fund
@fund-defi
2️⃣ DEF purchased the TRS patent, which is being used to sue MakerDAO and Compound, and dedicated it to the public. This means an end to the lawsuits against MakerDAO and Compound and insurance that similar lawsuits will never be filed.
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DeFi Education Fund
@fund-defi
3️⃣ ICYMI, in Sep 2023, DEF petitioned the US Patent & Trademark Office for the cancellation of this patent, and enlisted help from OG expert @hudsonjameson to explain to the Patent Board what this patent claims to do and why it is not valid. https://www.defieducationfund.org/post/def-fights-back-against-patent-troll
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DeFi Education Fund
@fund-defi
4️⃣ We began this journey with the primary goal of ensuring that builders were not targeted by those who seek to profit off of innovative technologies used in DeFi. And what we said at the onset remains true today: “patenting technology that is widely used, like oracle technology, is antithetical to the ethos of open source software development.”
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DeFi Education Fund
@fund-defi
5️⃣ To that end, DEF will dedicate the patent to the public, meaning the patent can never be used as the basis of a lawsuit for patent infringement in the future.
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DeFi Education Fund
@fund-defi
6️⃣ We are immensely grateful to the talented and hardworking team at Edell, Shapiro & Finnan, LLC for serving as our counsel in this matter and to our expert @hudsonjameson.
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