UN
Uniswap V2 is the original constant-product AMM that defined how decentralized exchanges work. Liquidity providers deposit two assets in equal value into a pool; the pool’s invariant x*y=k governs prices, and traders pay a 0.3% fee that goes to LPs.
Though V3 and V4 are more capital-efficient, V2’s simplicity, immutability, and permissionless pool creation keep it as the long-tail DEX of choice on every chain it deploys to. New tokens still routinely list against ETH or USDC on V2 first.