The article "From Uniswap to Pumpfun: Understanding DeFi Protocol from the Perspective of Fund Pool" (author: Lightning Huang Shiliang) takes the fund pool as the core perspective, systematically analyzes the operation mechanism of DeFi protocol, and believes that understanding the composition, interaction roles, constraint algorithms, profit distribution and governance mechanisms of fund pool is the key to mastering DeFi. Evolution of Uniswap V2/V3/V4 and Pump Fun