The Uniswap team announced via Twitter on Tuesday that its decentralized exchange hit cumulative trading of $1 trillion. The team added that over the past three years, Uniswap has onboarded millions of users to the world of DeFi, introduced fair and permissionless trading and lowered the barrier to liquidity provision
Uniswap is a decentralized exchange protocol built on Ethereum. To be more precise, it is an automated liquidity protocol. There is no order book or any centralized party required to make trades.
UNI, the native token of Uniswap, is currently trading at $5.56, down by more than 1% in the last 24 hours.