Curve Finance claims PancakeSwap copied its StableSwap code

A code dispute has surfaced between Curve Finance and PancakeSwap over the use of StableSwap technology.

Curve Finance (CRV) has publicly accused PancakeSwap (CAKE) of copying parts of its code without permission.

The allegation was posted on X on March 6. Curve claimed PancakeSwap used code from its StableSwap implementation without following the license terms.

Dispute over StableSwap code

In the post, Curve directly addressed PancakeSwap and said the exchange copied its code “without asking,” which it described as a violation of the software license.

Curve said the issue is both legal and technical. According to the team, similar situations in the past created problems for projects that reused the code without proper handling.

The post included a screenshot that appeared to highlight parts of the code in question. Curve suggested the file attribution listed PancakeSwap as the author even though the logic originated from Curve’s StableSwap system.

StableSwap is one of Curve’s main innovations. The automated market maker model is designed to allow low-slippage swaps between stablecoins and other tightly pegged assets. It uses a specialized mathematical formula that blends constant-product and constant-sum curves to keep prices stable during trades.

The system is widely used across decentralized finance. Curve’s smart contracts are open source, but the license requires proper attribution and compliance with the terms.

PancakeSwap response and possible resolution

PancakeSwap responded shortly after the post. The exchange said its team would contact Curve directly to discuss the matter. Curve welcomed the response and said it would prefer co-operation over conflict.

“Better to be friends and build together,” Curve wrote in a follow-up message.

The issue appears connected to PancakeSwap’s recent “Infinity StableSwap” upgrade announced earlier in March. The update brings better pricing for stablecoin swaps, with lower slippage and dynamic fees.

Curve cautioned that there may be technical risks if StableSwap code is copied directly or improperly modified. Forks of comparable systems in earlier DeFi projects occasionally encountered vulnerabilities or exploits due to improper code implementation.

As of right now, it appears that both teams are open to discussing a solution. Curve noted that PancakeSwap could still obtain a proper license and collaborate if it wants to use the technology without legal issues.