> For the complete documentation index, see [llms.txt](https://uniswaeepexchange.gitbook.io/us/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://uniswaeepexchange.gitbook.io/us/what-is-uniswap-and-how-does-it-work-or-binance.md).

# What Is Uniswap and How Does It Work? | Binance

Uniswap is a decentralized exchange that lets users trade any Ethereum ERC-20 tokens without intermediaries or centralized entities. It uses an innovative AMM model

<img src="https://1916016209-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Ft4VQEncyh2cMifEKOJqq%2Fuploads%2FEXvOYY5dsuKaSDnQYFB3%2Ffile.excalidraw.svg?alt=media&amp;token=213e0e12-c3f8-4575-9ff7-32a6d26a3aca" alt="" class="gitbook-drawing">