Uniswap, the decentralized exchange protocol, has achieved over $3 trillion in trading volume since its inception in 2018. Utilizing an automated market maker (AMM) model, Uniswap has introduced upgrades such as Uniswap v4 and Unichain to enhance cost efficiency and transaction speed. The platform offers non-custodial, permissionless access to decentralized finance (DeFi), addressing issues like custody risk and liquidity. The protocol allows users to trade directly from their wallets, provide liquidity for fees, and engage in governance through the UNI token. Uniswap's expansion across multiple blockchain networks and its plans for further upgrades, including modular liquidity and a new infrastructure layer, position it for potential growth. With increasing institutional interest and a robust security track record, Uniswap's UNI token could regain prominence in the DeFi space if protocol fees are introduced and adoption continues to rise.