
Exchanges / Multichain / UNI
Uniswap
A decentralized exchange protocol and interface for swapping tokens through onchain liquidity pools.
THE OVERVIEW
What Uniswap does
Uniswap is an exchange protocol built around onchain liquidity pools. Traders exchange assets against pool reserves, while liquidity providers supply the assets available for trading. Prices adjust with pool state, so a trade that is large relative to available liquidity has greater price impact. [1]
Its versions differ in how liquidity is managed. Version three introduced positions within chosen price ranges. Version four retains concentrated liquidity and adds hooks: optional contracts that customize actions around a pool, including swaps and liquidity changes. [2]
IN PRACTICE
What people use it for
UNDERSTAND THE TECHNOLOGY
Key concepts
Automated market maker
A pool and its pricing rules replace matching a trade against a posted order. [1]
Concentrated liquidity
Liquidity providers in v3 and v4 select the price range in which their liquidity is active. [1]
Hooks
Optional v4 contracts run around pool actions. Their behavior is specific to each pool. [2]
MARKET CONTEXT
UNI market
$9.18+0.94% 24hPrice history, market data and signal →FOLLOW THE STORY
Uniswap news & coverage
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Official resources & sources
Dextape explanations based on the primary documentation below.