According to CoinMeta, Uniswap founder Hayden Adams stated that as the trend of tokenization of real-world assets (RWA) continues to advance, automated market makers (AMM) are on a clear path to dominate global financial markets. He pointed out that traditional market makers monopolize high profits through vertical integration and pursue high-cost delta neutral hedging, whereas blockchain technology decouples execution, custody, and settlement, significantly lowering the barriers to entering the market-making business. In the blockchain ecosystem, liquidity naturally favors "correlated asset pairs (correlated pairs)", and only a few highly liquid "bridge pairs" (such as SPY / USD, ETH / USDC) are needed to connect to the US dollar channel. Since market makers holding these related assets bear lower inventory risks, passive AMM can replace traditional, high-cost market-making strategies at extremely low capital costs.