Uniswap’s Founder Lays Out a Bold Claim for AMMs

Uniswap founder Hayden Adams argued on 18 August 2026 that automated market makers are structurally built to dominate tokenized equity trading. The claim, laid out in a long-form post , rests on the idea that pairing correlated tokenized assets, such as individual stocks against broad index ETFs, sharply reduces impermanent loss and makes passive liquidity provision viable at scale. The…