Uniswap V2 Explained (Beginner Friendly)

Leo Zhang
12 min readFeb 28, 2022
(source: https://twitter.com/VitalikButerin/status/1489998905211195393)

Among those keywords about the core tech and mechanisms in crypto mentioned by Vitalik, what is x*y=k? It looks quite simple. Isn’t it?

Yes it is. In fact, it’s the formula that drives decentralized exchanges. For instance, It is being used by Uniswap, an active decentralized cryptocurrency exchange on Ethereum.