Everything on DeFi Technology

The competitive landscape of on-chain perps is shifting toward platforms that reduce trust assumptions, such as Lighter's use of Ethereum mainnet security and ZK proofs compared to Hyperliquid's validator model.

Impact: Increases the amount of institutional capital that can safely enter the DeFi space by eliminating bridge risks.

— from The Financialization of Bitcoin and the Rise of On-Chain Markets · The Milk Road Show· Apr 16, 2026