Hayden Adams recently responded to the controversy sparked by the income comparison across different DEX protocols. He pointed out that some benchmarking methods have obvious issues. For example, platforms like Aero recycle 100% of LP fees and then reward liquidity providers with tokens, which makes the on-paper income look very attractive. But here’s the problem—this model is fundamentally unsustainable. In simple terms, it’s just using token incentives to inflate the income figures.

More importantly, the actual returns for LPs are completely unpredictable because they depend heavily on the price fluctuations of third-party tokens. If that token crashes, the seemingly enticing incentives evaporate. Uniswap’s logic is different; it places more emphasis on a long-term reliable fee structure and ecosystem sustainability. This is also why the industry is beginning to reassess the true nature behind these "high-yield" models.