Uniswap is a decentralized trading platform (or exchange; "DEX") for ERC-20 tokens. As a DEX, Uniswap does not have a central limit order book that is common for cryptocurrency trading platforms and electronic exchanges.
According to Ethereum development company ConsenSys, with 1,625 DEX superusers - users who trade on DEXs more than 100 times per month, Uniswap dominated the superuser space in the second quarter of 2020.
Uniswap dominated trading volume with a 41 percent marketshare among DEXs in July 2020, when DEX trading volume grew 170 percent.
On September 16, 2020, Uniswap launched the UNI governance token, minting 1 billion coins to be publicly released over the next four years. Uniswap announced it on its blog, saying that 60 percent of all coins would be distributed to users, while 21.51 percent would be reserved for team members and future employees, 17.8 percent would be reserved for investors, and 0.69 percent would be reserved for advisors. The blog post declared that UNI "officially enshrines Uniswap as publicly-owned and self-sustainable infrastructure while continuing to carefully protect its indestructible and autonomous qualities." It also said that Uniswap would launch an initial liquidity mining program September 18 2020 at 12:00 AM UTC.