Victor Ugochukwu · Oct 22, 2020 . 5min read
1inch Exchange Co-founder admits his exchange copied Uniswap’s Source Code
DeFi fans called out 1inch Exchange of which Anton Bukov, co-founder of 1inch exchange admitted his solution copied Uniswap's source code
By Victor Ugochukwu · Aug 24, 2020 . 6min read
For some hours, a storm brewed on Twitter where DeFi protocol fans called out 1inch Exchange for sharp practices of which Anton Bukov, co-founder of 1inch exchange admitted his solution copied Uniswap’s source code.
The tirade appeared to have started earlier when 1inch posted a tweet, jabbing the failed YAM protocol experiment. It called it a Ponzi with potential governance over nothing. Consequently, the tweet elicited mixed reactions from DeFi fans with the majority asking 1inch to avoid the showdown.
The conversation quickly went off tangent and the heat turned on when a Twitter user with the handle @iamDCinvestor posted and insinuated that 1inch exchange may be guilty of what it just posted. He tweeted
The comments of this one are gonna get good. I’ve found 1inch to be a good product, but I’m not sure why they’re torching their brand here. But I guess when there are tokens to move w/ investors expecting return (something YAMs DIDN’T have), you gotta do what you gotta do…
As 1inch continued to defend itself saying it had not copied Uniswap, Adams Hayden joined in the conversation
And as anyone who knows how crypto tweetstorm can get, had @iamDCinvestor successfully fanned the embers. Hayden Adams, co-founder of Uniswap protocol joined the conversation. He said he doesn’t mind competition and then went in to accuse 1inch of lying and gaslighting. He tweeted further:
We’re not competing bro we just copied your protocol, copied your name, copied your brand, forked your trading interface, forked your analytics site, create a migration contract and launched a token to incentivize usageHayden Adams, Uniswap co-founder
This necessitated a response from Anton Bukov who then tweeted:
Protocol/name/brand were never copied, just based on Alan Lu formulas from 2017 as well as Uniswap and Balancer. Also improved ROI by fixing arb traders earning – wait for the comparison after first month. All other things had an opensource licence, we are thankfull for that.Anton Bukov, 1inch Exchange co-founder
He also claimed their action at 1inch exchange was what Uniswap wanted
Source code of web site was copied and modified a bit, because @UniswapProtocol team did a great job at developing and opensourcing it. This what @UniswapProtocol team wanted, to help other developers to bootstrap AMM development.
The tweetstorm continued as Uniswap fans kept accusing 1inch exchange that it copied Uniswap almost in everything including their latest product; Mooniswap. Uniswap – Mooniswap, so much for originality, some might say.
In all, Uniswap’s fans kept pushing it to release its governance token to attract more liquidity. Many of them think this will help shield it from competitions like 1inch exchange and Mooniswap.
Whether Uniswap will yield to fans request is not yet confirmed.
Follow Cryptodose for more updates.
Komal Joshi · Oct 22, 2020 . 5min read
Billion-dollar blockchains including Bitcoin forks, Tezos and Ripple only reported less than $1,500 transaction fees combined
Atleast 7 among other blockchains it reports in terms of fees worth a combined $25 billion only generated less than $1,500 in transaction fees.
Victor Ugochukwu · Oct 22, 2020 . 6min read