Uniswap
UNI✓ Verified$6.57▼ 1.57%
Price · Uniswap · USD
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About
Uniswap is the largest decentralised exchange by volume; UNI is its governance token.
DEXAMMDeFi
Trading without an order book
Uniswap replaces the order book with liquidity pools whose price follows the x x y = k rule. Anyone can create a pool or deposit tokens to earn fees. Version 3 (2021) introduced liquidity concentrated on a price range, version 4 (2025) programmable extensions.
The UNI token
In September 2020 Uniswap gave 400 UNI to every address that had used the protocol: one of the most famous airdrops. UNI carries a vote on the protocol’s future.
Specific risks
- Impermanent loss for liquidity providers.
- Scam tokens: anyone can create a pool for any token.
Questions and answers
Do you need an account to use Uniswap?
No, just a crypto wallet; you keep your tokens until the swap.
Notitia newsroom · education, not investment advice. Crypto-assets are very volatile.