[study] (1h) V2 AMM refresher — constant product, reserves, LP tokens

[ozpool]

Goal

Refresh V2 mechanics so V3/V4 additions land in contrast.

Time estimate

1h (single focused session)

Study plan (in order)

1. [15 min] Uniswap V2 whitepaper §2 'Functionality' and §3 'Constant Product Formula'
2. [15 min] uniswap/v2-core: contracts/UniswapV2Pair.sol — read swap, mint, burn
3. [15 min] Hands-on: compute LP tokens minted when you deposit (100 A, 200 B) into a pool with reserves (500 A, 1000 B)
4. [15 min] Write answers to the outcomes below from memory

Total: 60 min

After studying, you can

• Explain x * y = k and its price-impact implications
• Compute LP token minting given reserves + deposit amounts
• Describe V2's 0.3% flat-fee accrual model
• Articulate capital inefficiency for correlated pairs (stablecoins)

Tradeoff prompt for the architectural review

When is V2's simplicity still the right model vs V3 CL?

References

• Uniswap V2 whitepaper
• uniswap/v2-core (GitHub)