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Coinbase Institutional Market Call
Drift’s Cindy Leow, South Korea, and Altcoin Season
Dec 3, 2024
Cindy Leow, co-founder of Drift Protocol, shares insights on their innovative Solana-based decentralized exchange that offers high-leverage trading options. She delves into the implications of using 50x leverage and discusses risk management strategies. Meanwhile, David Han analyzes the effects of recent political events in South Korea on crypto exchanges and the shift in investor sentiment. The conversation also touches on the rising interest in altcoins as retail traders return to the market, showcasing the dynamic nature of today's crypto landscape.
26:38
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Quick takeaways
- Cindy Leow's Drift Protocol on Solana aims to revolutionize decentralized trading with its innovative features like 50x leverage and cross-margining.
- The podcast highlights significant disruptions in South Korean crypto exchanges following recent political events, reflecting the broader market impact on asset consolidation.
Deep dives
Cindy Lau's Journey and the Birth of Drift Protocol
Cindy Lau and her co-founder, David, ventured into the crypto space in 2017, initially trading Bitcoin between US and Korean markets to leverage the kimchi premium. This experience led to managing a $30 million trading fund, catalyzing their desire to shift from centralized trading platforms to decentralized finance (DeFi). Encountering an existential crisis in 2021 prompted them to build Drift Protocol on the Solana blockchain, aiming to create a decentralized exchange (DEX) that contributes to the ecosystem. Drift Protocol is designed to be an all-in-one DeFi super protocol, integrating functions like perpetual trading, borrowing and lending, and spot trading to maximize capital efficiency for traders.
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Discover
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