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Market structure

The case for onchain markets, with execution still to improve

The case for onchain markets, with execution still to improve. Dated original source, with context and links.

The original publications are in English. Navigation is available in seven languages.

01

Original on X ↗

DEXs should own the future because markets work better when access, custody and settlement are not controlled by a handful of intermediaries.

Onchain trading makes balances verifiable, rules visible and liquidity programmable, while users keep control of their assets instead of trusting an exchange’s internal database and solvency claims.

The technology still needs better execution, deeper liquidity and stronger risk controls, but the direction is obvious: transparent, permissionless markets are structurally superior to closed platforms built on trust.

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