Uniswap
UNI
Uniswap stands as DeFi's flagship decentralized exchange, pioneering the automated market maker (AMM) model that revolutionized cryptocurrency trading. By replacing traditional order books with liquidity pools and mathematical price formulas, Uniswap enables permissionless token swaps with guaranteed liquidity. Its innovative constant product formula (x*y=k) creates efficient markets without relying on centralized intermediaries. Through multiple protocol iterations, Uniswap has introduced concentrated liquidity, fee tiers, and cross-chain deployment while maintaining its core commitment to decentralization and censorship resistance. The protocol's governance token, UNI, empowers holders to direct development through transparent on-chain voting. As DeFi's most replicated protocol, Uniswap has demonstrated remarkable resilience, security, and adaptability while processing trillions in cumulative trading volume.
Launched: Nov 2018
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