Scenario B is already in progress

Uniswap strategically incentivizes the pools where they have completely lost the competition (see screenshot). The issue is that the competition will only increase from here, while Uni's focus in recent years has been on Unichain and v4, and neither of them was successful, in my opinion.

Curve is doing similar volumes on BTC now, @0xfluid is about to launch DEX v2 which we believe will become the biggest DEX by volumes in 2026 (yes, I am saying "about to launch" for the past 6 months, but this time it is real. The delay is happening only due to our paranoid approach to security and countless audits and reaudits of v2).

Uniswap has the lindy effect (which is further amplified with the recent hacks of other DEXes), but overall, DEX TVL is much easier to rotate, and users quickly migrate to more profitable venues (eg it took Fluid only 3 months to dominate stablecoin volumes on Ethereum with 0 incentives).

The strategy of incentivizing a few markets where you lose works if you only need to run it for a few pools, but it won't work if you need to incentivize all of them.

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