tl;dr
The DeFi Education Fund (DEF) has reached an agreement with True Return Systems (TRS) to purchase a patent for oracle-like technology. This patent was the subject of legal complaints against decentralized finance protocols MakerDAO and Compound. The purchase ends the legal dispute, allowing the prot...
The DeFi Education Fund (DEF) has acquired a patent for oracle-like technology from True Return Systems (TRS), resolving legal disputes with MakerDAO and Compound. This purchase, which effectively ends the legal conflict, ensures that all protocols have the legal right to use the technology. Furthermore, TRS has agreed to terminate its lawsuits against MakerDAO and Compound following the acquisition. The patent in question was central to legal complaints against the decentralized finance protocols MakerDAO and Compound. An oracle, which serves as a connection between a blockchain and an external system, is pivotal in DeFi. DEF's purchase not only secures the continued use of oracle-like technology by MakerDAO and Compound but also paves the way for other protocols to leverage this technology for various applications. Additionally, DEF plans to dedicate the patent to the public, granting every protocol the legal right to employ oracle-like technology as outlined in the intellectual property filing. While the settlement amount remains undisclosed due to the confidential nature of the negotiations, TRS' lawsuits aimed to prohibit the protocols from utilizing products based on oracle-like technology. However, with the termination of the lawsuits and the patent acquisition, the use of such technology is now safeguarded for numerous protocols within the DeFi space. This resolution marks the culmination of DEF's efforts, which included filing a petition with the United States Patent and Trademark Office to invalidate TRS' patent. Ultimately, the decision to purchase the patent brought a swifter conclusion to the matter compared to pursuing the petition and facing the lawsuits separately. In summary, the acquisition of this patent not only settles the legal disputes but also secures the future use of oracle-like technology for a multitude of protocols, further advancing and safeguarding the DeFi space.
More about TriMas Corporation
Company: TriMas Corporation
Overview: TriMas Corporation manufactures and supplies products for the consumer, aerospace, and industrial end markets globally. The company is headquartered in Bloomfield Hills, Michigan.
Industry: Manufacturing
Segment: Metal Forgings & Stampings
Market Cap: 965373000
Stock Price: $24.23
Price Change: $0.16
Percentage Change: 0.98%
Previous Close: $22.19
Price-Earnings Ratio (P/E): 0.0444
Shares Outstanding: 912500000
Dividend Yield: 40
EPS: $0.034
EBITDA: $0.031