Meme Coins Reflect Crypto Market Maturation , Says Drift Protocol ‘s Cindy Leow

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HTML_TAG_STARTMeme coin constitute a mature crypto market , enable user to rally behind narratives and launch tokens from scar , according toCindy Leow, co-founder ofDrift Protocol, aSolana( CRYPTO : SOL ) -based decentralized exchange ( DEX ) .HTML_TAG_END

HTML_TAG_STARTIn an interview with Benzinga , Leow highlighted the free burning relevance of meme coin , noting their purpose in showcasing the ability to produce and trade tokens organically , despite recent market slowdowns .HTML_TAG_END

HTML_TAG_STARTShe underscore that meme coin bicycle within extensive market bicycle signal a growing sophistication in decentralized finance .HTML_TAG_END

HTML_TAG_STARTLeow discuss Drift ‘s significant increase , with on-chain perpetual futures ( perps ) volume increasing fivefold in the past three weeks , driven by improved user experience ( UX ) and liquidity .HTML_TAG_END

HTML_TAG_STARTShe noted that past hurdles to on-chain perps adoption , such as onboarding and UX issues , have mostly been resolved , build trading on DEXs comparable to concentrate exchange ( CEXs ) .HTML_TAG_END

HTML_TAG_START“ The experience of trading on-chain is a mass good now than even a pair of month ago , ” Leow order , underscoring Drift ‘s advancements in matching CEX performance .HTML_TAG_END

HTML_TAG_STARTA key component in Drift ‘s success is its commitment to Solana ‘s Layer 1 ( L1 ) blockchain , which Leow praise for its trustless and verifiable nature , see to it store stay on secure and accessible .HTML_TAG_END

HTML_TAG_START“ Censorship resistance is one of the biggest things , ” she suppose , emphasizing the reliability of L1s over CEXs , which can be shut down abruptly .HTML_TAG_END

HTML_TAG_STARTDrift ‘s Just-In-Time ( JIT ) liquid example , an intent-based protocol , enhance trading efficiency by allowing market Lord to meet orders directly , bypass gas price and improving matching speed .HTML_TAG_END

HTML_TAG_STARTLeow also come up to the role of meme coins in labor perps volume on DEXs , describe them as a sustainable course .HTML_TAG_END

HTML_TAG_START“ There will always be way for meme coins because it present that mass hold an ability to muster behind a narrative , ” she order .HTML_TAG_END

HTML_TAG_STARTAlso Read : PayPal Rolls Out New Crypto Feature : Hither ’ s Why You Should LikeHTML_TAG_END

HTML_TAG_STARTHowever , she acknowledge a late dip in meme coin performance , attribute it to market maturation sort of than a decline in interest .HTML_TAG_END

HTML_TAG_STARTOn real-world hedging , Leow argued that on-chain derivatives cost already facilitating important hedging action .HTML_TAG_END

HTML_TAG_STARTDrift ‘s cross-margin system allows users to leverage assets like SOL or USDC ( CRYPTO : USDC ) as collateral to hedge positions , such as shorting SOL perps to maintain neutral photo .HTML_TAG_END

HTML_TAG_STARTShe predicted increase in basis trading as more hedgers enter DeFi .HTML_TAG_END

HTML_TAG_STARTConsider competition , Leow favored generalized L1s like Solana over app-specific irons likedYdX( CRYPTO : DYDX ) onUniverse( CRYPTO : ATOM ) , refer Solana ‘s upcoming Block Assembly Marketplace ( BAM ) for enable app-chain customizability within an L1 .HTML_TAG_END

HTML_TAG_STARTShe also noted challenge in expanding on-chain selection trading due to its over-the-counter ( OTC ) nature but suggested intent-based protocols could labor next success .HTML_TAG_END

HTML_TAG_STARTDrift ‘s focus on cross-collateralization , allow any token as collateral , has boosted its full value locked ( TVL ) and trading volume , particularly in bull markets .HTML_TAG_END

HTML_TAG_STARTUnlike competitor likeZeta Market, which pivoted away from Solana , Leow suppose Drift ‘s dedication to the ecosystem has insure its longevity .HTML_TAG_END

HTML_TAG_STARTShe underline filtering for organic retail stream to exert tone volume , avoid toxic flows from extravagant incentive .HTML_TAG_END

HTML_TAG_STARTLeow predict that perps liquidity will consolidate around a few superchains with lay down infrastructure and liquid , dismissing fragmented multi-chain example .HTML_TAG_END

HTML_TAG_START“ Mass will consolidate towards the chain that already has dollar , that have backers , ” she said .HTML_TAG_END

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