Uniswap is a popular decentralized trading platform built on the Ethereum blockchain that allows users to trade various ERC-20 tokens directly from their wallets.
It is an automated market maker protocol, meaning it uses smart contracts to facilitate token swaps between users without the need for traditional order books.
Moreover, Uniswap is open-source, allowing developers to build on top of the protocol and create new decentralized applications and services.
The platform has played a crucial role in the DeFi (Decentralized Finance) ecosystem, providing users with a trustless and permissionless way to swap tokens and participate in liquidity provision.
Uniswap gained significant attention for its fair and decentralized token distribution. UNI tokens were airdropped to historical users of the Uniswap platform, including liquidity providers and traders.
Uniswap (UNI) token
Uniswap (UNI) serves as a native governance token of the Uniswap decentralized exchange (DEX).
Uniswap relies on liquidity provided by users who contribute their tokens to liquidity pools. Liquidity providers earn trading fees and UNI tokens as rewards for providing liquidity.
As a governance token UNI that allows holders to participate in the decision-making process of the Uniswap protocol. UNI holders can vote on proposals for protocol upgrades, fee changes, and other governance matters.
Source: https://coinidol.com/uniswap-uni-token/