The representative one since around 2017 was EtherDelta, but it was difficult to use, and subsequently, Bancor, 0x, and Kyberswap were introduced, but the ease of use in terms of liquidity, handled tokens, and fees was not so good. This changed significantly after the Report by government agencies on crypto was introduced. After Uniswap V0 was released in November 2018, the TVL (Total Value Locked, the total amount of liquidity provided) was around 2 billion yen in the first half of 2019 and has continued to grow steadily. As of July 2020, about 9 billion yen in assets are on Uniswap as liquidity provided. Its convenience has further increased with the emergence of various DEXs, which can be viewed as variants of Uniswap. ※Services like Uniswap are called Automated Market Makers (AMMs).
https://gyazo.com/08113f3d41a1122c6a0330c90ac8bcac
This was developed by an individual named Hayden Adams, who did not have a startup or venture capital support. He was fired from his first job at Siemens in 2017 and was invited by his friend to develop on Ethereum. What made Uniswap different from existing DEXs can be seen in the "Pool" section at the top right of the image. Liquidity providers can provide liquidity for any ETH/ERC20 token pair, and if there is no token pair, new pairs can be added.
https://gyazo.com/db96596502f014069fd362bf57a9ba36
Anyone can provide liquidity tkgshn.icon*2
The 0.3% transaction fee is distributed to liquidity providers of the pool
Anyone can easily list ERC20 tokens on Uniswap
Since the liquidity providers generate creditor tokens, incentives can be provided from external sources by utilizing them
The specifications of Uniswap cannot be changed, and only depositors can withdraw their assets.