Ruslan Fakhrutdinov – Extended Exchange and Vault Tokenization (S7E27) – Flirting with Models

Ruslan Fakhrutdinov – Extended Exchange and Vault Tokenization (S7E27) – Flirting with Models

Market views

Bullish

DEX— Decentralized exchanges are gaining significant flow and adoption, with innovative vault designs and cross-asset margin capabilities positioning them to compete with centralized exchanges.
MARKETMAKING— Market makers on decentralized exchanges have profitable opportunities through liquidation flows and RFQ systems, with over 50 market makers integrated into Extended alone.

Bearish

CEFI— Centralized exchanges are losing market share to decentralized alternatives that offer better product portfolios and don't control user funds.
DEFI— DeFi spot markets on order book exchanges are illiquid compared to decentralized exchanges, creating a major blocker for cross-asset collateral margin at scale.

Not investment advice.