Uniswap is a decentralised exchange, known for its role in facilitating automated DeFi token trading. Normally, centralised exchanges create liquidity by matching buyers and sellers. Uniswap cannot rely on the availability of buyers and sellers, so it creates liquidity through a simple equation. The terms of the equation are the amount of each of the 2 tokens in a liquidity pool. UNI is the governance token of the network and is an ERC-20 token. As a governance token it is used to make decisions and authorise operations on the Uniswap network.