Uniswap UNI
Rank #36 by market cap
Last 7 days
▲5.00%What Uniswap is
Uniswap is a decentralised exchange protocol on Ethereum, launched in 2018 by Hayden Adams. It replaced the order book with a formula: anyone can deposit a pair of tokens into a pool, and the pool quotes a price automatically based on the ratio of what it holds. Traders swap against the pool, and the people who supplied it earn a share of the fees.
That design is why it works for assets no exchange would list. There is no listing process and no gatekeeper — a pool for any token can be created by anybody, which is simultaneously the protocol's most important property and the reason scam tokens are trivially tradeable on it.
The UNI token is worth understanding separately from the protocol. It was distributed in 2020, partly by airdrop to past users, and it is a governance token: it grants a vote, not a share of the fees. Whether to route protocol revenue to holders has been debated for years and is a decision made by vote, not a right. Supplying liquidity carries its own distinct risk — when the pool's price ratio moves, a liquidity provider can end up with less value than simply holding the two tokens would have produced, a loss the fees may or may not cover.
Where UNI lives
Always verify a contract address against the project's own site before sending anything. Addresses are shown as published by the data source, not as an endorsement — and identical-looking tokens on other chains are the most common way people lose money here.
Price change
Uniswap data synced 2m ago from CoinGecko. Figures shown in USD. This page is market information, not financial advice — and nothing here is a recommendation to buy or sell UNI.