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Maple Finance CEO: Traditional DeFi is dead and will be replaced by more mature on-chain financial markets.
According to a report by CoinDesk on December 21, Sidney (Sid) Powell, co-founder and CEO of Maple Finance, stated in an interview that traditional DeFi is “dead” and that the truly decisive factor in the future will be on-chain capital markets. He believes that as institutions gradually move trading, clearing, and settlement on-chain, the traditional model relying on Wall Street intermediaries and infrastructure will be increasingly squeezed, “onchain markets will swallow Wall Street.”
Powell pointed out that the early stage of the industry, characterized by speculation and simple lending in DeFi, will be replaced by more institutionalized on-chain financial infrastructure; future capital market activities will occur directly on public or permissioned chains, rather than being settled through traditional intermediaries such as brokers and investment banks.