DEX

Uniswap DAO: Governing the World's Largest Decentralised Exchange

Uniswap did not merely build the world's most used decentralised exchange. It built the governance token distribution model that defines DeFi, the AMM architecture that hundreds of protocols copied, and the organisational tripartite structure — Labs, Foundation, DAO — that has become the template for mature DeFi protocol governance. Understanding Uniswap DAO is understanding how DeFi governs itself.