#DeFi Summit — San Francisco
15 Projects, 1 Goal — create a more open financial system
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Last Thursday, #DeFi organized our first summit, a one-day community event comprised of collaborative strategic discussions on how to best build the open financial system. We hosted the event on the eve of ETHSanFrancisco, bringing together the enthusiasts, builders, and subject matter experts necessary for creating the open financial system we all strive toward. The end result was nothing short of spectacular: with topics ranging from wallet UX design to on-chain financial instruments, the caliber of the conversations blew us away. This blog post is meant to serve as an overview of the day’s meetings, providing you with summaries of the talks as well as more information behind each team.
Challenges to Trading on DEXs
Led by 0x Protocol ; CC @0xProject @willwarren89 @fragosti @tomhschmidt
0x enables peer-to-peer cryptocurrency trading by providing a protocol for decentralized exchange. Any organization can build a relayer on top of the protocol to coordinate market makers with takers, eliminating the concerns over custodial and counterparty risks associated with centralized exchanges. The majority of existing liquidity on the protocol is comprised of ERC20 tokens, but the release of v2 has led to ERC721-enabled relayers.
While tightening spreads are indicative of the protocol’s success, the 0x team understands that future growth will be predicated on support for a greater variety of asset categorizations. Security tokens represent the most compelling opportunity for expansion, due to the sheer volume represented by institutional investors. KYC compliance may be the elephant in the room when it comes to security tokens and DEXs, but the advances being made by Harbor and Wyre with on-chain solutions suggest that such models will be feasible within a greater decentralized finance stack. Greater options for stable coin pairings will also contribute to increased volume and liquidity.
