Uniswap is a protocol for automated token exchange on Ethereum.A simple smart contract interface for swapping ERC20 tokens. A formalized model for pooling liquidity reserves. An open source frontend interface for traders and liquidity providers. A commitment to free and decentralized asset exchange. UNI is a governance token for Uniswap, which is an automated liquidity protocol built on the Ethereum blockchain. UNI tokens exist as ERC-20 tokens on Ethereum, and allow holders to influence the direction of the Uniswap project. UNI holders have ownership of Uniswap's governance process, the UNI community treasury, the protocol's fee switch, and more. At launch, 15% of the total UNI supply was distributed to existing users of the Uniswap protocol. An additional 45% of the token's supply has been allocated to the community of Uniswap users, and will be distributed through liquidity mining on supported Uniswap pools, and other distribution mechanisms.