Viewpoint: Traditional DeFi is dead and will be replaced by more mature on-chain financial markets

According to CoinDesk, Maple Finance co-founder and CEO Sidney (Sid) Powell stated in an interview that traditional DeFi has "died," and 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 industry model of DeFi, which was primarily focused on speculation and simple lending, 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 brokers and investment banks as intermediaries.