金融科技和加密货币交易所开辟了 DeFi 大规模采用之路

DeFi 的扩张取决于金融科技公司和加密货币交易所之间的合作，与传统金融机构相比，金融科技公司和加密货币交易所更有动力进行转型。虽然大型链上经纪商可能不是最佳的扩展解决方案，但作为其他开发基础的中立协议为大规模采用提供了更好的途径。

Fintech and Crypto Exchanges Pave the Way for DeFi's Mass Adoption

金融科技和加密货币交易所为 DeFi 的大规模采用铺平道路

The decentralized finance (DeFi) landscape has been abuzz with activity recently, with numerous financial technology (fintech) firms and crypto exchanges embracing the potential of layer-2 (L2) blockchains. This surge in interest stems from the remarkable success of Coinbase's Base L2, which has inspired entities to explore the benefits of L2s and establish their own L2-based offerings.

去中心化金融 (DeFi) 领域最近非常活跃，众多金融技术 (fintech) 公司和加密货币交易所都在拥抱第二层 (L2) 区块链的潜力。这种兴趣的激增源于 Coinbase 的 Base L2 的巨大成功，它激励实体探索 L2 的好处并建立自己的基于 L2 的产品。

This trend is driven by a fundamental shift in the financial industry's landscape. Traditional finance (TradFi) incumbents, with their established infrastructure, have shown limited enthusiasm for transitioning to DeFi. In contrast, fintech firms and crypto exchanges possess a distinct advantage, as they lack their own financial infrastructure and rely heavily on TradFi's fee-laden services. Embracing L2s and DeFi protocols presents an opportunity for these entities to gain control over their infrastructure, enhance efficiency, and reduce operating costs, ultimately unlocking significant profit potential.

这一趋势是由金融业格局的根本性转变推动的。传统金融 (TradFi) 现有企业凭借其成熟的基础设施，对向 DeFi 转型的热情有限。相比之下，金融科技公司和加密货币交易所拥有明显的优势，因为它们缺乏自己的金融基础设施，并且严重依赖 TradFi 的收费服务。采用 L2 和 DeFi 协议为这些实体提供了对其基础设施的控制权、提高效率并降低运营成本的机会，最终释放巨大的利润潜力。

"TradFi has very little interest in moving to DeFi, to be frank, just because they have such an unfair advantage with their current infrastructure," observed Paul Frambot, CEO of DeFi lending firm Morpho Labs. "However, fintechs don't have their own financial infrastructure, they have to go through all the fees of the TradFi guys. But they have distribution, they have adoption. So if they start owning their own infrastructure by building on top of layer-2s and immutable DeFi, then they can start generating more profits from it, gain efficiency and limit their operating costs."

DeFi 借贷公司 Morpho Labs 首席执行官 Paul Frambot 表示：“坦率地说，TradFi 对转向 DeFi 兴趣不大，只是因为他们现有的基础设施拥有如此不公平的优势。” “然而，金融科技公司没有自己的金融基础设施，他们必须支付 TradFi 人员的所有费用。但他们有分销，他们有采用。所以，如果他们开始通过在顶层构建来拥有自己的基础设施—— 2s 和不可变的 DeFi，那么他们就可以开始从中产生更多利润，提高效率并限制运营成本。”

Case in point, Robinhood, the popular trading platform, recently announced a partnership with L2 blockchain Arbitrum. Meanwhile, many other fintech firms have implemented wallet infrastructure to seamlessly integrate with Web3. These moves signal a clear recognition of the transformative potential of L2s and DeFi in disrupting the financial landscape.

举个例子，流行的交易平台 Robinhood 最近宣布与 L2 区块链 Arbitrum 建立合作伙伴关系。与此同时，许多其他金融科技公司已经实施了钱包基础设施以与 Web3 无缝集成。这些举措标志着人们清楚地认识到 L2 和 DeFi 在颠覆金融格局方面的变革潜力。

Another key element in DeFi's growth trajectory, according to Frambot, is the emergence of neutral protocols that serve as the foundation for various financial applications. These protocols, akin to the rails of the internet, provide a flexible and extensible platform for building diverse financial products tailored to specific use cases. This approach contrasts with monolithic on-chain brokers or funds like Aave or Compound, which face scalability limitations and challenges in meeting the diverse compliance requirements of a global market.

Frambot 表示，DeFi 增长轨迹的另一个关键因素是作为各种金融应用基础的中立协议的出现。这些协议类似于互联网的轨道，提供了一个灵活且可扩展的平台，用于构建针对特定用例定制的多样化金融产品。这种方法与Aave或Compound等单一链上经纪商或基金形成鲜明对比，后者在满足全球市场多样化的合规性要求方面面临可扩展性限制和挑战。

"We can't have [a] one-size-fits-all monolith that meets all the different compliance needs of the world," Frambot emphasized. "People want different [know your customer] or risk. So you have to have the core protocol that is completely un-opinionated, and people build specific financial products on top for their specific use cases."

“我们不可能拥有一刀切的整体架构来满足世界上所有不同的合规性需求，”Frambot 强调。 “人们想要不同的[了解你的客户]或风险。因此，你必须拥有完全不带偏见的核心协议，并且人们可以根据自己的特定用例构建特定的金融产品。”

Morpho Labs, which initially gained prominence as an optimization service for DeFi giants like Aave, exemplifies this shift towards neutral protocols. Morpho has evolved into a base-level protocol, similar to Uniswap, the leading decentralized exchange, enabling the development of specialized financial products that cater to diverse market segments.

Morpho Labs 最初是作为 Aave 等 DeFi 巨头的优化服务而声名鹊起，它就是这种向中立协议转变的例证。 Morpho 已发展成为一种基础级协议，类似于领先的去中心化交易所 Uniswap，支持开发迎合不同细分市场的专业金融产品。

Frambot believes that the path to mass adoption of DeFi lies in the convergence of fintech firms, crypto exchanges, and neutral protocols. This alliance creates a disruptive force with a compelling incentive to embrace new infrastructure and transform the financial industry. By harnessing the power of L2s and neutral protocols, these entities can unlock the full potential of DeFi, bringing its benefits to a much broader audience.

Frambot 认为，大规模采用 DeFi 的途径在于金融科技公司、加密货币交易所和中立协议的融合。这一联盟创造了一股颠覆性力量，具有令人信服的动力去拥抱新基础设施和变革金融业。通过利用 L2 和中立协议的力量，这些实体可以释放 DeFi 的全部潜力，将其好处带给更广泛的受众。

As Frambot asserts, "I'm still frustrated that we're not changing finance at all. We're still playing for crypto users that already have crypto. The promise of the open financial infrastructure underpinning every financial service is miles and miles away from where we are right now."

正如 Frambot 所言，“我仍然对我们根本没有改变金融业感到沮丧。我们仍在为已经拥有加密货币的加密货币用户服务。支撑每项金融服务的开放式金融基础设施的承诺距离我们还有很长的路要走。”我们现在在哪里。”

The fusion of fintech, crypto exchanges, and neutral protocols represents a pivotal moment in DeFi's evolution. Together, these forces have the potential to shatter the barriers that have hindered DeFi's mass adoption, ushering in a new era of financial innovation and inclusivity.

金融科技、加密货币交易所和中立协议的融合代表着 DeFi 发展的关键时刻。这些力量共同有可能打破阻碍 DeFi 大规模采用的障碍，开创金融创新和包容性的新时代。