Uniswap founder Hayden Adams says automated market makers could play a central role as tokenization reshapes markets.
His argument comes as demand grows for always-on infrastructure and more assets move onto blockchain-based trading systems.
Adams believes blockchains separate execution, custody, and settlement into distinct layers, unlike traditional market makers that combine those functions. He argues this structure can reduce barriers by avoiding the need for firms to manage every part of trading.
Why Uniswap Sees AMMs Suited to Tokenized Assets
Adams says AMMs are particularly effective for closely related asset pairs, where passive liquidity can face lower inventory risk. He also says these markets can offer costs that remain competitive with large professional trading desks.
His view is that continued migration of assets onchain will reorganize trading around related pairs and a limited number of cross-chain routes. Adams also expects this shift to widen market access as tokenized markets develop.
He has further suggested that passive AMM strategies could eventually operate similarly to index funds. The comments extend his defense of automated market makers in blockchain-based finance.
In January, Adams rejected criticism that liquidity providers are structurally undercompensated in AMMs. He pointed to growth in Uniswap pools and argued that AMM liquidity can be reused as collateral more easily than alternatives.
Tokenized Market Issuance Reaches $34.55 Billion
The latest comments arrive as tokenized real-world asset activity continues to expand. DeFiLlama data cited by Cryptopolitan showed RWA deposits rising from $650.88 million to about $3.98 billion within twelve months.
That increase represents roughly sixfold growth over the period. Total tokenized issuance across the sector has reached $34.55 billion, according to figures cited in the report.
Uniswap has also expanded its involvement in tokenized equities. As of August 13, the protocol supported more than 190 Robinhood stock tokens across its protocol, applications, and API.
One tokenized SPY trading pair recorded $33 million in volume over twelve days. The activity reflects Uniswap’s effort to participate in global, self-custodial, round-the-clock tokenized markets.
Uniswap Expands Tools for Regulated Token Issuers
In July, Uniswap introduced Permissioned Pools through a v4 hook designed for regulated tokenized markets. The feature limits trading access to wallets approved by the relevant issuer.
Tokenization companies Securitize, Superstate, and Dowgo were named as launch partners. The initiative allows issuers to use Uniswap infrastructure while maintaining approved-wallet trading restrictions.
Despite the broader tokenization push, UNI did not mirror the sector’s growth. CoinMarketCap listed UNI near $3.25 on the day of Adams’ post, with a market capitalization of about $2.03 billion.
That valuation remained below levels recorded earlier in the year, even as Uniswap increased its participation in tokenized assets and related trading infrastructure.
