Before the Swaps: A Map of Uniswap V2

Recently I did a blog post where we did a quick breakdown of what AMMs are, Uniswap specifically, and built a basic intuition of how things work under the hood. It was initially just supposed to be a quick intro, but it eventually turned out more technical. We covered the Constant Product formula, how it came to be, and how it's been the cornerstone of almost the entire DeFi space (the actual decentralized space, not the protocols that keep showing up with a multisig and claiming to be DeFi, until somehow they get compromised and begin crying that the protocol itself is decentralized and we aren't at fault — it was the keys. Just shut up, if something can put that big of a dent in your core logic then stop calling yourself a DeFi protocol. Yeah, it's DeFi until it isn't. It's unbelievable how there have been so many such exploits in the past few years, but that doesn't mean it prevents new protocols, following similar architecture, from not coming up, not getting funded and somehow not