Uniswap (UNI) is the governance token of the Uniswap protocol, a decentralized exchange (DEX), launched in September 2020. The Uniswap protocol is built on the Ethereum blockchain and utilizes an Automated Market Maker (AMM) model, allowing users to swap cryptocurrencies directly without a traditional centralized intermediary. The introduction of the UNI token marked a key step towards community governance for the protocol. Holders of UNI tokens have the right to propose and vote on important changes to the protocol, such as upgrades and fee mechanism adjustments 。

UNI was initially distributed via an airdrop to early users, which attracted significant market attention. Its price experienced high volatility upon launch, surging multiple times within a short period before correcting. As a core token in the DeFi space, the value of UNI is closely tied to the overall heat of the DeFi ecosystem and fundamental metrics of the Uniswap protocol itself, such as trading volume and fee generation. Furthermore, its price can also be influenced by relevant regulatory developments 。

Other governance tokens for decentralized exchanges similar to UNI include Sushiswap (SUSHI) and PancakeSwap (CAKE).

Buying and selling UNI can be done on the BIT website and app. Established in 2019, BIT is a globally leading, Asia-largest one-stop crypto financial services platform.