Opinion: Traditional Decentralized Finance is dead and will be replaced by more mature on-chain financial markets.

According to ChainCatcher news and CoinDesk reports, 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 that relies on Wall Street intermediaries and infrastructure will be increasingly squeezed, “onchain markets will swallow Wall Street.” Powell pointed out that the early days of the industry, characterized by speculation and simple lending in DeFi, will be replaced by more institutionalized on-chain financial infrastructure; future capital market activities will occur directly on public or permissioned blockchains, rather than being settled through traditional intermediaries such as brokerages and investment banks.