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Uniswap is an Ethereum-based decentralized exchange system that allows non-custodial trading of ERC-20 tokens. The first version (Uniswap v1) has been in use since November 2018 (when it debuted at DevCon 4), while the second version (Uniswap v2) debuted in May 2020 and is presently running alongside the third version (Uniswap v3).Uniswap was created as a way to provide AMMs to a broader audience on Ethereum. Uniswap was created to provide liquidity to the DeFi community, as well as the perks that come with it. The protocol, which uses the formula "X x Y = K"?for automatic exchange, is one of the most extensively used AMMs today. The company's founder, Hayden Adams, claims to be the creator of Uniswap's unique execution of the formula.