Uniswap

Uniswap is a <a href="/facts/Decentralization/5koMXAUs">decentralized</a> <a href="/facts/Cryptocurrency_exchange/PBbzsc11">cryptocurrency exchange</a> protocol built on the <a href="/facts/Ethereum/6RfpJ46R">Ethereum</a> <a href="/facts/Blockchain/8H43GgWy">blockchain</a>. It enables the automated trading of digital assets through <a href="/facts/Smart_contract/D5TN1q4n">smart contracts</a>, eliminating the need for intermediaries or centralized order books. As a key product in the DeFi (<a href="/facts/Decentralized_finance/xjvIyL8f">decentralized finance</a>) ecosystem, Uniswap facilitates <a href="/facts/Cryptocurrency/Rg6JAS8y">cryptocurrency tokens</a> swaps using liquidity pools contributed by users.
The protocol, which runs on <a href="/facts/Open-source_software/HzTaB8E9">open-source software</a>, was launched in 2018 and has since become one of the most prominent DeFi applications. As of December 2024, Uniswap is estimated to be the second largest decentralized exchange and the seventh-largest <a href="/facts/Cryptocurrency_exchange/PBbzsc11">cryptocurrency exchange</a> overall by daily <a href="/facts/Volume_(finance)/AQWm7jbz">trading volume</a>. 
Uniswap operates using open-source software on <a href="/facts/Blockchain/8H43GgWy">blockchain</a> networks, and allows users to exchange cryptocurrencies directly from their wallets. Governance of the protocol is managed by holders of its native governance token, UNI, which was introduced in 2020 and distributed retroactively to early users. While UNI is used to vote on protocol upgrades and changes, it is not required to use the platform.

Uniswap open-in-new

Uniswap