Lightspeed Cross-Post: The State of Solana DeFi With Kyle Samani & Chris Heaney
Episode publishedPodcast: Bell CurveBell Curve
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Hey, listeners. I spoke with Multi Coin Capital managing partner Kyle Simani and Drift cofounder Chris Heaney on stage at Drift's DeFi day during Solana Accelerate last week. It was a fun, wide ranging conversation on Solana DeFi that came as competition heats up in a bunch of different Solana sectors from trading bots to market making. It was a really interesting moment to have this conversation. This also continues what is quickly becoming a tradition of us hosting Kyle for live Lightspeed episodes. I hope you all enjoy.
Quick shout out to permissionless four coming this summer to New York, June twenty fourth through June 26. We'll have speakers from all across the industry, including Hayden Adams, Kyle Simani, Guy Young, and more. Get your tickets today by following the link in today's show notes, and make sure to use code bell 10 to save 10% on your purchase. See you there. Hey, everyone. Quick disclaimer before we get into today's episode. Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and the views expressed by anyone on
everyone. Welcome back to another episode of Lightspeed. This is the coolest venue I've ever recorded Lightspeed from. We're a Solana podcast. Come out twice a week. Go check us out. I was forced to wear this QR code shirt. Apologies for that. If you wanna scan it, I'll, I'll I'll take
this guy out. Scanning a QR code is ops like risk, so you might get wrecked if you scan it. It's
actually, yeah, gonna drain your wallet if you scan it. No. It was not my decision, but I'm sitting here, and I have to deal with the decisions I've made in life. So we're gonna make the most of it. As mentioned, I'm joined by Kyle and Chris of Multi Coin and Drift respectively. And we're just gonna chat a little bit, jam about Solana DeFi. It's, I don't know, a really interesting time in in DeFi. I think there's a lot going on, a lot you could say about it. You know, some of these interesting prop AMMs coming out, a lot more going on in the lending space. Drift, I think just, announced an ins
know, the the most interesting happening, I think, kind of like across a lot of DeFi is just like the market structure is changing and and kind of like at all layers of the stack. Obviously, we have FireDancer coming. We have new consensus that was just announced, you know, a day or two ago by Anza. You used to now see a bunch of new aggregators, Deflow, Titan. Obviously, Joot's been around for a while. We continue to see, improvements in in JIT liquidity, combining on and off chain liquidity, and I will talk about SWIFT here in a minute with with the Drift folks. And you you we we just see, w
Chris, how does it feel for you? Because I I know Drift has been around for years now, and I think there's a lot more competition in the DeFi world than there ever has been. So does what Kyle's saying resonate with you? Or, like, what's it like to be a a founder in the Solana DeFi world right now? Yeah.
I think, on the Solana front, the biggest advantage right now is very much just trying to push and innovate on, making sure execution and trading experience is great on Solana. I think the issue with holding institutions come like, holding back institutions coming on chain is the fact that, you know, institutions don't wanna get, sandwiched or have crazy slippage, etcetera. So the fact from, like, the the, you know, from Tolli, the super core understanding, like, we need to push application specific sequencing to drift and other DeFi, teams pushing for JIT liquidity, RFQ models,
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