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The well-known grocery retailer chain Dealer Joe’s has initiated a lawsuit towards a cryptocurrency-based Decentralized Finance (DeFi) platform, additionally named Trader Joe, as revealed in U.S. court docket filings dated Oct. 5.
Dealer Joe’s alleges that the creators of the DeFi platform named their service “after the grocery store,” immediately quoting a newsletter that also exists on-line.
That allegation goals to refute statements from one defendant within the case, Cheng Chieh Liu. When Dealer Joe’s filed a criticism with the U.N.’s World Mental Property Group (WIPO) in 2022, Liu asserted that the DeFi platform that he operates was named after his brother. WIPO dominated in favor of the DeFi platform at the moment.
The grocery chain additionally alleges in its present criticism that the DeFi platform created a fictional narrative involving a “Dealer Joe” who sells crops in a neighborhood market, evoking its grocery model. Although the DeFi platform seems to have an authentic mascot, the grocery chain complains that the character’s pink cap is much like its pink emblem and branding.
Dealer Joe’s needs DeFi platform penalized
All through its declare, Dealer Joe’s mentioned that the DeFi platform has capitalized on its greater than 50 years of operations. As well as, it claimed that the DeFi platform harmed its repute, noting that in Paris Blockchain Week, the DeFi platform ran a controversial “vandalism-based” promotional marketing campaign, the place its branding appeared on non-public property
Dealer Joe’s has requested courts to forestall, or enjoin, the DeFi platform from utilizing its trademarked identify on its web site, app, social media profiles, and in different contexts.
The grocery retailer additionally goals to acquire monetary damages, together with earnings recovered from the DeFi platform, so as to compensate itself and canopy authorized charges. Moreover, it intends to acquire possession of assorted web sites and domains linked to the DeFi platform.
Dealer Joe’s mentioned that it despatched a number of cease-and-desist letters to the DeFi platform, noting that he platform’s operators didn’t reply to or adjust to these requests. As of Wednesday, the DeFi web site stays lively and operational.
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