Hayden Adams Explains Uniswap and the Rise of DeFi
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 6 May 2021
⏱️ 58 minutes
🧾️ Download transcript
Summary
There's an irony with crypto. While so much of it is ostensibly about circumventing legacy finance, many of the most important pieces of crypto infrastructure are centralized financial entities. For example, the newly public Coinbase holds fiat currency and is subject to numerous regulations. Enter decentralized exchanges. A new breed of trading venues has been built to enable trading directly upon a blockchain, allowing assets to be exchanged without any custodial requirements, permission, or even accounts. It's a totally different model of trading and market structure. On this episode, we speak with Hayden Adams, the creator of the Uniswap Protocol, which powers the world's largest decentralized exchange, to explain how it all works.
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| 0:54.3 | Hello and welcome to another episode of the Adlots podcast. I'm Joe Wyzenthal. |
| 1:00.6 | And I'm Tracy Alloway. |
| 1:02.5 | So Tracy, you know, we recently had the Coinbase IPO. |
| 1:06.7 | Yes, we did. A big moment for crypto that was, I think, the analogy I must all use was that |
| 1:13.3 | it was like crypto's coming out party. Yeah, I think that's fair. I saw it compared to the Netflix |
| 1:21.2 | IPO, maybe some comparisons to the launch of the CME Bitcoin futures in late 2017, but certainly |
| 1:29.9 | quite a big moment for the crypto world. Yeah. It's sort of, I guess, it capped a really big |
| 1:37.6 | year for crypto in the sense that we've seen this massive institutional adoption or at least a |
| 1:43.8 | lot more than a lot of people had expected. We saw PayPal saying that it would allow its users to |
| 1:49.2 | buy and sell crypto. We've seen parts of Wall Street start to get more interested. We seem to be |
| 1:55.4 | very, very close to getting that long awaited Bitcoin ETF. And so it really feels like all of |
| 2:01.6 | that momentum sort of built up and then exploded in the Coinbase IPO. Yeah, that's exactly right. |
| 2:09.3 | But there is an irony with Coinbase and you mentioned crypto ETF, but there is an irony with Coinbase, |
| 2:17.4 | which is that, you know, with crypto, it's supposed to be cutting out legacy financial institutions. |
| 2:23.4 | Like that's a big part of the sales page. But a Coinbase just went public on legacy exchanges. |
| 2:30.9 | But beyond that, Coinbase itself is kind of in a weird way, a legacy financial institution itself. |
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