At the WebX conference in Japan, Uniswap Labs founder Hayden Adams shared his observations on the new regulatory environment in the U.S., privacy issues, and the long-term development of DeFi during a fireside chat. With regulatory pressure easing and traditional finance increasingly taking notice, decentralization will gradually reshape the financial order, reduce high intermediary costs, and bring about a more transparent and fair experience.
Regulatory Relaxation: Is the 'Golden Era' of DeFi Arriving?
With the Trump administration taking office, the U.S. has successively promoted (GENIUS) and (CLARITY) bills, and the outside world generally believes that the cryptocurrency market is entering a new golden era. As for whether these bills can help DeFi, Adams stated:
In the past, regulatory bodies often targeted the best-performing participants in the industry, hindering innovation; now, the pressure has eased, allowing operators to focus more safely on building.
He pointed out that (GENIUS) indeed directly benefits stablecoin issuers and can indirectly stabilize Uniswap's trading ecosystem, but the real key lies in establishing a long-term healthy market structure to ensure the sustainable development of DeFi.
For policymakers, he emphasized that the real-time transparency of blockchain has actually met many regulatory demands for transparency.
Will DeFi Last? Adams: Decentralization Does Not Need Permission
When discussing the core privacy aspect of the vision for decentralization, Adams expressed optimism about whether it can still exist in today's new environment:
Decentralization itself does not exist because it is 'allowed', but because the technology is inherently decentralized, and this will continue.
However, he also emphasized that the protection of privacy rights is more complex and far exceeds the scope of the cryptocurrency industry. The areas involved are not limited to cryptocurrencies, but also extend to AI and communications. Adams stated that privacy rights will continue to face pressure or attacks from governments or different industries, and there is a greater need for collective consensus on privacy protection among the public.
Lessons from FTX: Why Decentralization is More Trustworthy
Regarding the debate between decentralized and centralized finance, Adams believes that the trend is gradually leaning towards and will ultimately lead to decentralization: "Because they will become stronger, more transparent, and more user-friendly with iterations."
He pointed out that Coinbase is also actively integrating DEX services to embrace decentralization, showing that even large CEXs must cater to the trend.
He mentioned that the most representative case is the collapse of FTX, which, as a junction between cryptocurrency and centralization, was once the second-largest exchange in the world but ultimately collapsed due to fund misappropriation. This serves as proof that decentralization has advantages over centralization.
Of course, decentralization still faces challenges, especially in scalability and user experience (UX). Adams likened it to ‘the early internet’, where the initial experience was poor, but as technology abstracted and interfaces evolved, it ultimately matured.
Open Protocols: New Pathways for Developers and Asset Issuers
Adams particularly emphasized that decentralization has another significant advantage: 'It is a stable and trustworthy foundation.' Unlike centralized platforms like YouTube, Instagram, or the App Store, developers do not have to worry about changes in APIs or policies and can build securely on the protocol.
Similarly, asset issuers can directly establish liquidity pools through Uniswap, saving the costs of negotiating with market makers and exchange teams. He noted that this model has been functioning well in the DeFi world, allowing anyone to quickly issue new assets and obtain liquidity, which may attract traditional financial institutions to follow suit in the future.
As regulatory pressure eases, these advantages will become increasingly prominent. He bluntly stated that high financial intermediary costs should be eliminated:
You can imagine a world where $25 wire transfer fees and 3% credit card transaction fees can be completely eliminated, after all, we do not need these.
This article is republished with permission from: (Chain News)
Original Title: (WebX | Uniswap Founder Discusses the Future Path of DeFi: Advantages Gradually Fermenting, Decentralization Becoming Mainstream)
Original Author: Crumax
‘WebX 2025) Uniswap Founder: DeFi Advantages Gradually Fermenting, Decentralization Finally Becoming Mainstream’ was first published in ‘Crypto City’