Uniswap is open-source software licensed under the GPL . Each Uniswap smart contract, or pair, manages a liquidity pool made up of reserves of two ERC-20 tokens. Anyone can become a liquidity provider (LP) for a pool by depositing an equivalent value of each underlying token in return for pool tokens.
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Uniswap (UNI) is an Ethereum token that powers Uniswap, an automated liquidity provider that’s designed to make it easy to exchange Ethereum (ERC-20) tokens . There is no orderbook or central facilitator on Uniswap. Instead, tokens are exchanged through liquidity pools that are defined by smart contracts.
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