Built on the Ethereum blockchain, Uniswap is a decentralized cryptocurrency exchange (DEX). Users can exchange a variety of Ethereum-based tokens directly from their wallets without the aid of a middleman or order book thanks to this automated market maker (AMM) that works in this manner.
To enable token swaps, Uniswap leverages smart contracts and liquidity pools, and an algorithm determines its pricing. The UNI native governance token on the Uniswap platform allows users to vote on protocol updates and modifications.