Setting up a DEX such as Uniswap is quite hectic; hence planning and effort have to be put into it. Here are the details step-by-step:

Market Research
Understand the current DEX platforms, determine market trends, and user needs to gain insight.
Determine the gap that your DEX will come to fill in the current market.

Select Blockchain Platform
Considering a blockchain like Ethereum or Binance Smart Chain will depend on your target population and type of transactions.
Using a Uniswap Clone Script  A good clone script for Uniswap can save a lot of time in the development phase.
The script should be extensible for specific features and branding.

Smart Contract Development
Develop and deploy smart contracts which will facilitate token swap and liquidity pooling.
Ensure that the contracts are able to hold the required functionalities, like automated market-making.

Design UI
Produce an intuitive, fun UX that will maximize user interaction.
Be keen on responsive design so that it is compatible with any kind of device.

Wallet Integration
Connect different wallets such as MetaMask wallets for transactions without hassles;
A secure process of connecting a wallet yet at the same time easy.

Liquidity Incentives
Develop a yield farming capability so that providers are attracted to the liquidity.

Testing and Security Audits
Test it out on all grounds to find bugs and vulnerabilities
Use third-party audit check for the smart contract security

Launch and Market
Come up with a marketing strategy by including SEO, Content marketing, and community engagement to attract both the user and the liquidity.

This is how to create a competitive DEX by simply following these steps and leveraging a Uniswap clone script in the growing DeFi space.

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