Uniswap
Swap, earn, and build on the leading decentralized crypto trading protocol
Uniswap V3 is a version of the Uniswap decentralized exchange protocol built on concentrated liquidity. Liquidity providers choose the price range in which their capital is active, and each pair can have pools at several fee tiers. Each position is held as a non-fungible token carrying its own range and fee settings, and pools also serve as on-chain price oracles.
Uniswap V4 is the current version of the Uniswap decentralized exchange protocol, with every pool held in a single contract. Developers can attach hooks, contracts that add custom logic such as dynamic fees, limit orders, or automated liquidity management, to individual pools. It keeps concentrated liquidity from earlier versions, lowers gas costs for swaps and pool creation, and supports pairs in native ETH.
Uniswap Protocol is automated market maker through smart contracts, enabling peer-to-peer cryptocurrency trading without intermediaries using liquidity pools and constant product formula.
Uniswap V2 is a version of the Uniswap decentralized exchange protocol that pairs any two ERC-20 tokens in a liquidity pool priced by a constant-product formula. Liquidity providers deposit both tokens and earn a share of the fee on every swap in that pool. Each pair also records cumulative prices that other contracts can read as an on-chain price oracle.