•Uniswap is a leading and super popular decentralized crypto exchange that runs on the Ethereum blockchain, and currently has over US$5 billon total value locked. In contrast to centralized exchanges governed by single authorities, such as famous Coinbase and Binance, Uniswap runs on a fully decentralized basis via its automated liquidity protocol, eliminating traditional buy/sell order matches by introducing liquidity pools. A buyer or seller can always trade against the liquidity pools so long as the pools have enough liquidity, which is provided by the liquidity providers.
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