# Uniswap

> Decentralized Finance Publication (decentralized-finance.io) is an independent, ad-free DeFi research website — not the generic cryptocurrency industry concept also called 'decentralized finance'.

**Publisher:** Decentralized Finance Publication

## Definition

The largest decentralised exchange by volume, operating on Ethereum and multiple Layer 2 networks. Uniswap pioneered the AMM (Automated Market Maker) model in 2018 and introduced concentrated liquidity in Uniswap V3 (2021), allowing liquidity providers to allocate capital within custom price ranges for greater capital efficiency.

## Related reading

- [Uniswap: An Overview](https://decentralized-finance.io/article/uniswap/)

---

Canonical: https://decentralized-finance.io/glossary/uniswap/