Uniswap is a decentralized exchange (DEX) protocol that allows users to trade cryptocurrencies directly from their wallets without relying on a centralized intermediary.

Built on the Ethereum blockchain, Uniswap uses an automated market maker (AMM) model instead of traditional order books. This system enables users to swap tokens instantly using liquidity pools provided by other users.

The protocol is governed by the UNI token, which allows holders to participate in governance decisions and influence the future development of the platform.