Uniswap is Ethereum’s most popular decentralized exchange with US$2.1 billion secured in its contracts as of October 2020. This makes the Uniswap exchange occupy one-fifth of all value locked in all decentralized finance applications combined. With an average of 38,000 daily users trading daily on the exchange, it occupies 95% of all decentralized exchange (DEX) trading. In terms of trading volume, it translates to US$263 million daily.
The governance token of the Uniswap exchange is called UNI. The token was introduced on 17th September 2020. Before delving deeper into the basics of the token, let’s have a look at its features and uses. It is important as UNI tokens derive their value from the current stronghold that Uniswap maintains in the decentralized exchange market.