Project (DeFi) | What is UniSwap

Uniswap is a decentralized exchange (DEX) platform based on Ethereum. It was launched in 2018 and it executes transactions using an automated market maker (AMM) protocol. Uniswap conducts transactions through liquidity pools. These pools allow users to exchange one asset for another. One of the most important features of Uniswap is that it does not require any permission. Users do not need to obtain any permission or undergo KYC verification to use the platform. This is a result of Uniswap's decentralized structure. Uniswap operates on the Ethereum blockchain and its native token is UNI. UNI is awarded as a reward to users and liquidity providers who contribute to the Uniswap platform.