Uniswap Gains Popularity with DeFi-Fueled Trading Protocol

Uniswap is a decentralized trading protocol that facilitates automated trading of decentralized finance (DeFi) tokens. Founded by Ethereum developer Hayden Adams, Uniswap launched in November 2018 and has gained popularity this year due to the DeFi phenomenon.

The platform's creator was influenced directly by Ethereum creator Vitalik Buterin, who even gave the protocol its name, it was originally known as Unipeg.

Uniswap exists to create liquidity for the DeFi sphere, using a formula for automated exchange. The protocol functions without identity requirements for users and can be accessed by anyone with tokens. In September 2020, Uniswap went a step further by creating its own governance token, UNI, which was awarded to past users of the protocol.