UNI is the governance token of the Uniswap decentralized exchange platform. Holders of UNI tokens have the ability to participate in the decision-making process for the platform, including voting on proposals and changes to the protocol. UNI tokens can also be used to earn a share of the trading fees generated on Uniswap.

Uniswap is known for its automated market maker (AMM) model, which allows users to trade cryptocurrencies directly from their wallets without the need for traditional order books. This model has contributed to Uniswap's popularity and liquidity, making it one of the leading decentralized exchanges in the DeFi space.

Overall, UNI tokens play a key role in the governance and operation of the Uniswap platform, providing holders with a stake in the ecosystem and a say in its future direction.

UNI tokens were distributed through various mechanisms, including a retroactive airdrop to users who had interacted with the Uniswap platform prior to a certain date. This airdrop was seen as a way to reward early supporters and users of the platform, as well as to decentralize ownership of the governance token.

Since its launch, Uniswap has continued to innovate and expand its offerings, with the introduction of new features such as liquidity pools, yield farming opportunities, and the launch of Uniswap V3 with concentrated liquidity. The platform has played a significant role in the growth of decentralized finance (DeFi) and has become a cornerstone of the Ethereum ecosystem.

As a result, UNI tokens have gained value and significance within the DeFi community, attracting attention from traders, investors, and users looking to participate in the governance and growth of the Uniswap platform.