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Uniswap is a fully decentralized on-chain protocol for token exchange on Ethereum that uses liquidity pools instead of order books. Anyone can quickly swap between ETH and any ERC20 token or earn fees by supplying any amount of liquidity. Uniswap is open source and functions as a public good.

By eliminating unnecessary forms of rent extraction and middlemen, it allows faster, more efficient exchange. Where it makes tradeoffs, decentralization, censorship resistance, and security are prioritized.

There is no central token or platform fee. No special treatment is given to early investors, adopters, or developers.

All smart contract functions are public and all upgrades are opt-in.

Token listing is open and free.

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