Which statement is false about Uniswap V2?

Question

BlackTom AI · Accepted Answer

Exploring the statements about Uniswap V2 requires unpacking how Uniswap V2 operates in general.
Option 1: 'Uniswap V2 uses a constant product formula.' This is true. Uniswap V2 relies on the automated market maker model with the invariant x * y = k, meaning the product of the reserves stays constant for a pair when trades occur.
Option 2: 'Uniswap V2 is a decentralized exchange.' This is true. It operates on a blockchain without a central intermediary, enabling peer-to-peer token swaps via smart contracts.
Option 3: 'Uniswap V2 is implemented with smart contracts.' This is true. The Core and Exchange contracts encode the AMM logic, liquidity provision, and trade settlement.
Option 4: 'Liquidity providers receive liquidity tokens representing their share of the pool.' This is true. When users add liquidity, they receive LP tokens that represent their proportional stake in the liquidity pool and entitle them to a share of fees.
Option 5: 'Uniswap V2 uses an order book to determine price.' This is false. Uniswap V2 does not use an order book; prices are determined algorithmically by the constant product formula based on current pool reserves, not by matching orders at listed prices in an order book.

46912 Blockchain - Final Exam

Which statement is false about Uniswap V2?

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