Uniswap is a popular decentralised exchange (DEX) that operates on the Ethereum blockchain and is known for its role in facilitating automated trading of decentralised financial (DeFi) tokens. It is open source and the listing of tokens on the exchange is free. Uniswap aims to keep token trading automated and fully open to anyone with tokens, while itself improving trading efficiency compared to traditional exchanges. It works through a smart contract, where one party allows the exchange to trade and the other allows the listing of tokens. By automating the market making process, it encourages trading activity by reducing risk and costs for all counterparties. The mechanism also removes the requirement to identify users and virtually anyone can create a liquidity pool for any pair of tokens in exchange for a commission.

UNI is their token, giving them control and decision-making rights, and they can influence the development of the platform.