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Uniswap is a decentralized cryptocurrency exchange protocol built on the Ethereum blockchain. It allows users to trade ERC-20 tokens and provides liquidity through automated market-making. Uniswap's novel AMM system eliminates the need for any centralized order book, allowing users to trade peer-to-peer without intermediaries. It also enables anyone to become a liquidity provider (LP) and earn fees by adding tokens to Uniswap pools. Overall, Uniswap is a popular and open-source platform for facilitating decentralized token swaps.