Uniswap Founder: Uniswap Protocol Fees Are Not Equal to Actual Revenue, Prioritize Long-Term Sustainability

Wu said that Uniswap founder Hayden Adams responded to recent debates about “protocol revenue” by stating that some comparison methods are misleading. He pointed out that models like Aero recover 100% of LP fees and return them to LPs through token incentives, which amplifies the “revenue” scale on paper but does not represent sustainable fees, and LP returns are highly dependent on third-party token prices. He stated that Uniswap’s protocol fee design is different, with only a portion of the fees going to the protocol. Its core goal is long-term sustainability rather than creating a high revenue illusion. The current fee scheme will be implemented gradually, prioritizing liquidity and growth; raising fees too quickly could instead lead to liquidity loss. He added that the project is still in its early stages, and the annual burn or revenue scale is difficult to assess at this time. The long-term goal is to seize the future growth opportunity of trillions of dollars in transaction volume.