吴说区块链|Jan 03, 2026 02:25
According to Wu Blockchain, Uniswap founder Hayden Adams recently responded to the controversy surrounding 'protocol revenue' comparisons. He stated that some comparison methods are misleading. Adams pointed out that models like Aero return 100% of LP transaction fees and redistribute them to LPs through token incentives, which inflates the 'revenue' figures on paper but does not represent sustainable fees. Additionally, LP earnings are highly dependent on third-party token prices.
He explained that Uniswap's protocol fee design is different, with only a portion of transaction fees allocated to the protocol. The core goal is long-term sustainability rather than creating the illusion of high revenue. The current fee structure will be implemented gradually, prioritizing liquidity and growth. Raising fees too quickly could lead to liquidity loss.
Adams added that the protocol is still in its early stages, making it difficult to estimate annualized burn or revenue figures. The long-term goal is to capture opportunities from the future growth of multi-trillion-dollar trading volumes.
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