Uniswap is the largest peer-to-peer decentralized exchange (DEX) running on the Ethereum.

Uniswap is a decentralized exchange (DEX) that operates on the Ethereum Network. It was initially proposed by Vitalik Buterin in 2016, and then launched in November 2018 by Hayden Adams, who received a series of grants for its creation. Since then, Uniswap has attracted investments from prominent firms, including Andreessen Horowitz. 

Like other DEXs, Uniswap uses an automated market maker algorithm, which means that instead of matching individual buy and sell orders, the exchange hosts a "pool" of two tokens that are traded against each other. Users of Uniswap submit one token to the pool in exchange for the other, and the price is determined by the ratio of tokens in the pool. Anyone can create a pool between tokens on Uniswap, and liquidity is provided by liquidity providers who lock both tokens of the pair in the pool. In the early days of Uniswap, liquidity providers were rewarded with UNI tokens, although this incentive scheme ended in 2021. Despite this, Uniswap remains one of the most dominant DEXs in the market.

UNIUniswap

Debuts Continuous Clearing Auctions (CCA)