A decentralised exchange (DEX) protocol built on the Ethereum blockchain that uses an automated market maker (AMM) model to facilitate token swaps without traditional order books or intermediaries. Uniswap allows anyone to provide liquidity by depositing token pairs into pools and earn a share of trading fees in return. It has become one of the most influential DeFi protocols and has been deployed across multiple blockchain networks.
Example
“The trader swapped 5 ETH for USDC on Uniswap, receiving the best available rate from the ETH/USDC liquidity pool without needing to place a limit order.”