Uniswap (UNI) is a decentralized, open-source protocol built on the Ethereum blockchain that allows for the automated exchange of cryptocurrencies through the use of liquidity pools. Launched in 2018 by developer Hayden Adams, Uniswap has become one of the leading decentralized finance (DeFi) platforms, enabling users to trade various Ethereum-based tokens (ERC-20) without the need for intermediaries or traditional order books.

Uniswap's unique feature is its use of liquidity pools, which are created by users who deposit pairs of tokens into smart contracts. These pools facilitate the swapping of tokens and provide liquidity for traders. In return for supplying liquidity, providers earn a portion of the trading fees generated by the platform.

The native token of Uniswap is called UNI, which was introduced in 2020. UNI is an ERC-20 token that serves multiple purposes within the Uniswap ecosystem, such as governance and voting rights. UNI holders can participate in decision-making processes that shape the platform's future and can also earn a share of the protocol's fees by staking their tokens.

Uniswap has gained popularity for its permissionless nature, allowing users to trade tokens without the need for a centralized exchange or know-your-customer (KYC) procedures. Its user-friendly interface and innovative approach to decentralized trading have contributed to the rapid growth of the DeFi sector and made Uniswap one of the most widely-used platforms in the space.