Uniswap is the largest decentralized exchange, letting users swap tokens directly from their wallets without an intermediary. UNI is its governance token, used to vote on how the protocol develops.
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Uniswap is the best-known decentralized exchange in crypto. Instead of an order book run by a company, it uses automated liquidity pools: users trade against pools of tokens supplied by other users, and pricing adjusts automatically. That model, known as an automated market maker, reshaped how tokens are traded on-chain.
Launched on Ethereum and now running across many networks, Uniswap settles billions of dollars in trades and lets anyone list or swap a token without permission. Liquidity providers earn a share of trading fees for supplying their assets to the pools.
UNI, introduced in 2020, is the protocol's governance token. Holders can propose and vote on changes such as fee settings and treasury use, giving the community a say in how Uniswap evolves. It has a capped supply of one billion tokens released over several years.
UNI is an ERC-20 token listed on most major exchanges, so it is easy to buy with fiat. Its price reflects both the success of the Uniswap protocol and broad crypto market sentiment, and it is volatile like any crypto asset.
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Uniswap is the largest decentralized exchange, where users swap tokens directly from their wallets using automated liquidity pools. UNI is its governance token, used to vote on protocol changes.
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