Uniswap is a decentralized exchange protocol built on the Ethereum blockchain. More specifically, Uniswap is an automated liquidity protocol. Traders can exchange Ethereum tokens on Uniswap without trusting a single actor with their funds and can lend their crypto through liquidity pools. By lending their crypto to liquidity pools, token-holders can earn fees. Uniswap’s native token, UNI, provides governance rights to owners that can vote on changes to the protocol.