Uniswap v4 Fee Maths Under Scrutiny as Adams Defends LP Impact Claims

Uniswap founder Hayden Adams pushed back publicly against criticism of the protocol’s newly activated v4 fees on Tuesday, arguing that claims the change reduces liquidity provider earnings rest on flawed assumptions.

The rebuttal follows Uniswap governance’s approval of protocol fee activation across selected v4 pools on multiple blockchains. Tons of FUD and misunderstanding around the v4 fee switch:"LP fees are getting reduced" – False. Protocol fees are additive, not subtractive.

LPs earning 30bp per swap still earn 30bp"The protocol is taking 25% of LP profits" – Made-up math.

On a 30bp pool the protocol fee is…— Hayden Adams (@haydenzadams) July 28, 2026 Adams used a 30-basis-point pool as his reference case: a 5-basis-point protocol fee, he said, represents roughly 14% of total swap fees, not a reduction in what LPs earn.