# Uniswap

By [shashi](https://paragraph.com/@shashi) · 2023-03-27

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Uniswap 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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*Originally published on [shashi](https://paragraph.com/@shashi/uniswap)*