Unicoin Sues Uniswap Over 'Uni' Trademark Dispute
Unicoin has sued Uniswap Labs in New York federal court over a trademark dispute regarding the UNI prefix. According to the lawsuit, Unicoin has been using its brand name since 2021 and had informed Uniswap that it would continue to use the name despite their demands to stop.
The complaint argues that 'uni' is a generic or descriptive term used in various contexts, including words like unit, union, universe, university, and unicorn. Unicoin cites more than 3,600 registrations in the U.S. Patent and Trademark Office database containing UNI, with approximately 1,000 currently live.
Unicoin also disputes the risk of consumer confusion between its brand and Uniswap's, citing differences in their products and branding. The complaint describes UNICOIN as an asset-backed cryptocurrency marketed under the tagline 'The Smart Coin for Smart People,' while Uniswap operates a decentralized exchange tied to its UNI governance token.
The lawsuit seeks five forms of substantive relief, including non-infringement, dilution, cancellation of Uniswap's UNI registration, cybersquatting, and unfair competition. It wants declarations allowing the continuation of its brand use without infringing on Uniswap's trademarks.