Uniswap is a decentralized exchange (DEX) built on the Ethereum blockchain. It allows users to swap various ERC-20 tokens without the need for an intermediary or a central authority. Uniswap uses an automated market maker (AMM) system, where users can provide liquidity to different token pairs and earn fees in return. This unique model has made Uniswap one of the most popular DEX platforms in the decentralized finance (DeFi) space.One key feature of Uniswap is its user-friendly interface, which makes it easy for anyone to trade tokens without complicated order books. Additionally, Uniswap's open-source nature allows anyone to create new token pairs and list them on the platform, providing a wide range of trading options for users. However, it is important to note that using Uniswap comes with risks, such as impermanent loss for liquidity providers and the potential for smart contract vulnerabilities.