Haseeb Qureshi, managing partner at Dragonfly Capital, and Dan Robinson, research partner at Paradigm, discuss the explosion in decentralized exchange activity on automated market makers from $1 billion earlier this year to more than $10 billion in August.  <ul> <li style="font-weight: 400;">Why trading in automated market makers has 8xed in a few months</li> <li style="font-weight: 400;">how automated market makers work, and how specific dexes can specialize for the assets being traded on them</li> <li style="font-weight: 400;">why traders would prefer to trade on a dex vs. a centralized exchange</li> <li style="font-weight: 400;">how incentivized pools have drawn traders and liquidity </li> <li style="font-weight: 400;">why trading on a dex seems can be more appealing than on a centralized exchange</li> <li style="font-weight: 400;">why trading on dexes now mirrors trading on Binance in 2017</li> <li style="font-weight: 400;">how "DeFi is the hottest coolest place where people are making a lot of money"</li> <li style="font-weight: 400;">the difference between the metrics of liquidity, trading volume and total value locked for a dex</li> <li style="font-weight: 400;">why AMMs are capital inefficient</li> <li style="font-weight: 400;">what it means that fees paid on Uniswap are about half of those paid on Bitcoin </li> <li style="font-weight: 400;">what the purpose of liquidity mining is</li> <li style="font-weight: 400;">why Haseeb doesn't think that dexes have network effects and that once professional market makers come in the space, Uniswap will lose market share</li> <li style="font-weight: 400;">whether users will use DeFi directly through the dexes or through another interface</li> <li style="font-weight: 400;">why Dan thinks that DeFi is now comparable to financial investment in the 1970s </li> <li style="font-weight: 400;">whether or not yield aggregators like yEarn make it harder for AMMs to compete</li> <li style="font-weight: 400;">what happened with the CRV token launch</li> <li style="font-weight: 400;">initial dex offerings or initial DeFi offerings, like the UMA token launch</li> <li style="font-weight: 400;">whether, because of the high fees on Ethereum and the how long its transition to Ethereum 2.0 will take, DeFi activity could move to another blockchain such as Solana</li> <li style="font-weight: 400;">where DeFi will go over the next few years</li> </ul>   Thank you to our sponsor!  <a href="http://crypto.com/">Crypto.com</a>: <a href= "http://crypto.com/">http://crypto.com</a>   Episode links:  Haseeb Qureshi: <a href= "https://twitter.com/hosseeb">https://twitter.com/hosseeb</a> Dan Robinson: <a href= "https://twitter.com/danrobinson">https://twitter.com/danrobinson</a>   Haseeb’s post on the rise of AMMs: <a href= "https://medium.com/dragonfly-research/what-explains-the-rise-of-amms-7d008af1c399"> https://medium.com/dragonfly-research/what-explains-the-rise-of-amms-7d008af1c399</a>   Haseeb's post on how Uniswap could be un-bundled: <a href= "https://medium.com/dragonfly-research/unbundling-uniswap-the-future-of-on-chain-market-making-1c7d6948d570"> https://medium.com/dragonfly-research/unbundling-uniswap-the-future-of-on-chain-market-making-1c7d6948d570</a>   Dex volume: <a href= "https://defiprime.com/dex-volume">https://defiprime.com/dex-volume</a>   Trading volume on centralized exchanges: <a href= "https://www.theblockcrypto.com/genesis/74539/july-by-the-numbers-a-look-at-crypto-exchange-volumes-open-interest-and-miner-revenue"> https://www.theblockcrypto.com/genesis/74539/july-by-the-numbers-a-look-at-crypto-exchange-volumes-open-interest-and-miner-revenue</a>   Incentivized pools: <a href="https://pools.fyi/#/?tag=incentivized">https://pools.fyi/#/?tag=incentivized</a>   Top dexes by trading volume: <a href= "https://www.coingecko.com/en/dex">https://www.coingecko.com/en/dex</a>   Ethereum transaction fees: <a href= "https://bitinfocharts.com/comparison/ethereum-transactionfees.html"> https://bitinfocharts.com/comparison/ethereum-transactionfees.html</a>    Uniswap website visits 15x in July: <a href= "https://messari.io/article/uniswap-total-website-visits-grew-15x-in-july"> https://messari.io/article/uniswap-total-website-visits-grew-15x-in-july</a>   Website traffic to DeFi platforms explodes in July: <a href= "https://www.theblockcrypto.com/post/74231/defi-platforms-web-traffic-july"> https://www.theblockcrypto.com/post/74231/defi-platforms-web-traffic-july</a>   Fees paid to various crypto projects: <a href="https://cryptofees.info/">https://cryptofees.info</a>   Curve reaches $1 billion in TVL: <a href= "https://www.theblockcrypto.com/linked/75014/curve-becomes-third-defi-protocol-to-hit-1-billion-in-total-value-locked"> https://www.theblockcrypto.com/linked/75014/curve-becomes-third-defi-protocol-to-hit-1-billion-in-total-value-locked</a>   The Block on dex aggregators: <a href= "https://www.theblockcrypto.com/genesis/69468/dex-aggregators-user-experience"> https://www.theblockcrypto.com/genesis/69468/dex-aggregators-user-experience</a>   Delphi Digital on aggregators and why dexes will be like airlines: <a href= "https://www.delphidigital.io/reports/dex-wars-and-aggregation-theory/"> https://www.delphidigital.io/reports/dex-wars-and-aggregation-theory/</a> <a href= "https://www.delphidigital.io/reports/are-amms-the-airlines-of-crypto/"> https://www.delphidigital.io/reports/are-amms-the-airlines-of-crypto/</a> <a href= "https://twitter.com/ZeMariaMacedo/status/1298589417855168518?s=20"> https://twitter.com/ZeMariaMacedo/status/1298589417855168518?s=20</a>   Mooniswap: <a href= "https://www.theblockcrypto.com/linked/74454/1inch-launches-automated-market-maker-mooniswap"> https://www.theblockcrypto.com/linked/74454/1inch-launches-automated-market-maker-mooniswap</a>   Yield aggregators: <a href= "https://www.theblockcrypto.com/genesis/75189/defis-yield-aggregator-dao-yearn-finance"> https://www.theblockcrypto.com/genesis/75189/defis-yield-aggregator-dao-yearn-finance</a>   How DeFi is affecting OTC desks: <a href= "https://www.theblockcrypto.com/daily/75870/defi-otc-desks-lunch"> https://www.theblockcrypto.com/daily/75870/defi-otc-desks-lunch</a>   Serum on Solana: <a href= "https://www.theblockcrypto.com/daily/72924/ftx-dex-serum-solana-blockchain"> https://www.theblockcrypto.com/daily/72924/ftx-dex-serum-solana-blockchain</a>   CRV launch: <a href= "https://www.theblockcrypto.com/genesis/74921/the-story-of-the-botched-crv-launch"> https://www.theblockcrypto.com/genesis/74921/the-story-of-the-botched-crv-launch</a>   UMA token launch: <a href="https://www.theblockcrypto.com/genesis/63611/uma-token-sale-retrospective"> https://www.theblockcrypto.com/genesis/63611/uma-token-sale-retrospective</a>   Serum on Solana: <a href= "https://medium.com/solana-labs/ftx-chooses-solana-for-serum-a-high-speed-non-custodial-decentralized-derivatives-exchange-c346a27c1f2b"> https://medium.com/solana-labs/ftx-chooses-solana-for-serum-a-high-speed-non-custodial-decentralized-derivatives-exchange-c346a27c1f2b</a>   <a href= "https://www.coindesk.com/uniswap-ftx-perpetual-futures"> https://www.coindesk.com/uniswap-ftx-perpetual-futures</a>

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Why Decentralized Trading Has 10Xed in a Few Months - Ep.188

Laura Shin