Uniswap is basically a decentralized exchange. The innovative feature of user provided liquidity is a copy of the curve protocol. These are pretty much financial instruments that are allowing random people to raise money by just listing their token with some promise of De-Fi.
There are DeFi projects that have existing working products even before Uniswap was launched. I just want to put that out there since it would be unfair to lump them as "new projects with a promise".
Earlier if you were a scam dev, you had to go through the pains of lisitng on an exchange so you could dump your "tokens" on clueless buyers. Now you can just list them on uniswap, make promises about "future" development and then sell as much as you can by careful trading on uniswap.
On the other hand, a legit developer won't have to raise funds to pay insane registration fees. I am pretty sure many developers have lost their money too when their token were delisted.
There are pros and there are cons. What I particularly like about uniswap is the huge warning that's displayed whenever someone trades. I don't think other decentralized [P2P rather] exchanges have that before.
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I also read feedback about the Uniswap charts. Most of them are saying it's awful and data are delayed.
