Hayden Adams Claims SBF Bought Uniswap.com to ‘Flex’ on the Company

Hayden Adams has claimed that Sam Bankman-Fried paid seven figures for the Uniswap.com area. Adams stated Uniswap Labs had earlier rejected the unique proprietor’s seven-figure asking worth.

According to Adams, Bankman-Fried later acquired the area and redirected it to a Uniswap fork. He described the transfer as a method to “flex” or mess with the firm. The area later turned a part of a WIPO dispute.

Inside the Uniswap.com Dispute

According to the WIPO choice, Uniswap Labs filed its grievance again on May 18, 2021, in opposition to the registered holder of Uniswap.com. Interestingly, the area had initially been registered on July 30, 2000. However, the respondent’s authorized consultant stated it acquired the area on April 7, 2021. This was after the firm had already secured trademark rights for UNISWAP.

At the time of the case, the area was redirecting guests to a web page on SushiSwap, which the panel recognized as working in the similar monetary market as Uniswap. The respondent later modified the area to a web site selling the commerce of sea urchin, utilizing the Japanese time period “uni,” after the grievance was filed.

The respondent denied having prior data of Uniswap Labs. WIPO, nonetheless, rejected these arguments. In truth, the panel discovered that the respondent had been conscious of the firm earlier than buying the area and that proof confirmed it thought-about the firm a rival.

The panel additionally verified by the Wayback Machine that Uniswap.com had redirected guests to a SushiSwap web page round the time the grievance was filed. WIPO concluded that the use of the area created a probability of confusion with Uniswap Labs’ trademark and didn’t qualify as a “legit” use. It was additionally discovered that the area had been acquired and utilized in “dangerous religion.”

Four months later, WIPO ordered the area to be transferred to Uniswap Labs. Importantly, the choice doesn’t identify the disgraced FTX founder as the respondent or set up that he acquired the area.

SBF’s Role in SushiSwap

SushiSwap had initially launched as a fork of Uniswap throughout the speedy DeFi progress in 2020. Bankman-Fried was already concerned with it a number of months earlier than the Uniswap.com dispute. In September 2020, its creator, Chef Nomi, handed management of the mission to Bankman-Fried throughout a governance disaster. This got here after Chef Nomi withdrew tokens from the mission’s developer fund.

As reported by CryptoPotato, Bankman-Fried then helped oversee SushiSwap’s migration earlier than management steadily shifted to a multisignature setup.

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