The Evolution of On-Chain Capital Markets - TOKEN2049 Dubai 2024
Explore the dynamic evolution of on-chain capital markets in this insightful talk from TOKEN2049 Dubai 2024. The panel, featuring industry leaders Julian, Cindy, Amber, and Kevin, delves into the profound shifts across multiple market cycles, tracing the trajectory from centralized trading on offshore exchanges to the burgeoning decentralized finance (DeFi) landscape.
Julian, CEO of Evo, provides a retrospective on market transformations since 2017, noting a significant migration of trading volume from centralized entities to on-chain venues. The panelists highlight the innovative breakthroughs that have redefined on-chain ecosystems, such as the rise of perpetual protocols, particularly Cindy's work on Solana with Drift. The discussion also navigates the complexities of liquidity fragmentation across layer ones and twos, illustrating the shifting sands of DeFi's landscape.
Amber and Kevin shed light on the evolving DeFi-CeFi interplay, emphasizing infrastructural advancements that facilitate a smoother transition for institutional participants. Despite the progress, challenges persist, particularly in regulatory compliance and institutional onboarding. The panel underscores the necessity for improved market maker structures and token strategies to foster deeper liquidity and robust participation.
Amid the whirlwind of innovation, from meme coins to liquid staking tokens, the talk reflects on the need for resilient, transparent systems to sustain market integrity and broaden accessibility. Looking forward into 2024, the speakers express optimism about mainstream adoption as centralized exchanges develop layer twos, paving the way for seamless integration.
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