Onchain finance’s biggest selling point is transparency. I think it’s also its biggest obstacle. What keeps institutions off-chain isn’t speed or fees. It’s visibility. That’s not a popular thing to say in crypto, but I believe it’s true. if a fund can’t operate without exposing its positions to everyone, serious capital won’t come. @primus_labs is moving in this direction. What I find most compelling is that it doesn’t ask liquidity to move. It adds confidentiality on top of existing rails. Fixing the system without tearing it down is, in my view, the most realistic path. Transparency is valuable when you can choose who sees what. Public settlement doesn’t have to mean public everything. https://t.co/9MQLVRqo2o