The decentralized exchange protocol launched by Hayden Adams in 2018 is Uniswap.
Uniswap lets users trade Ethereum-based tokens through smart contracts rather than a traditional centralized order-book exchange. Its early design used automated market makers and liquidity pools. Participants supply token pairs to pools, while a mathematical pricing rule determines the exchange rate as trades occur.
Hayden Adams launched the first version in November 2018 after being inspired by an idea associated with Ethereum creator Vitalik Buterin. Uniswap later developed through multiple versions, adding features such as concentrated liquidity in Uniswap v3.
Uniswap is often described as an exchange, but it is not a company-operated brokerage in the conventional sense. The protocol’s smart contracts execute trades, and users retain control of their wallets. Fees, risks, and available features depend on the specific version and deployment.