What is Uniswap (UNI)?

• Official Website: uniswap.org

• Definition: Uniswap (UNI) is a decentralized exchange (DEX) for trading Ethereum-based tokens.

• Category: DeFi, DEX, Token.

• What It Is: A protocol for automated liquidity provision and token swaps.

• Function: Enables peer-to-peer trading without intermediaries.

• Analogy: Think of Uniswap as a vending machine for tokens. You put in one token and get another instantly.

• Pros: Decentralized, no KYC, strong community.

• Cons: High gas fees, impermanent loss for liquidity providers.

• Controversies: Regulatory scrutiny, competition from other DEXs.