Uniswap

Uniswap is a decentralized exchange protocol that lets users swap tokens without a central intermediary. Its first version was released on Ethereum in 2018, and the protocol uses an automated market maker (AMM) model based on liquidity pools instead of an order book: liquidity providers deposit token pairs into pools, and the price is set mathematically according to the ratio of assets in the pool.

UNI is the governance token launched in September 2020 through an airdrop to past users of the protocol. UNI holders can vote on proposals concerning protocol parameters, use of the treasury and the fee structure. Today the protocol runs on Ethereum as well as on many second-layer networks and on Unichain, a network developed by the Uniswap team; UNI also exists in bridged versions on many networks.

The usage volume of the protocol, governance decisions on fee policy and general trends in decentralized finance can affect the value of UNI. On Lzzo.com, the Uniswap price is a reference shown by converting the Binance UNI/USDT pair into dollars using the Coinbase Exchange USDT/USD observation.