In this episode, we’re joined by Jesse Walden and Austin Adams to discuss the DEX landscape today, vertical integration in DeFi, and DEX market share growth. We also dove into Doppler’s design, and why it’s being launched as a Uniswap v4 hook. Finally, we talked about Pure Markets, DEX design trends, and progressive decentralization.Thanks for tuning in!ResourcesDoppler Announcement: https://x.com/AustinAdams10/status/1889362777791168877--Ledger, the global leader in digital asset security, proudly sponsors Bell Curve! As Ledger celebrates 10 years of securing 20% of global crypto, it remains the top choice for securing your assets. Buy a LEDGER™ device now, and build confidently, knowing your BTC, ETH, SOL, and more are safe.Buy now on https://shop.ledger.com/?r=1da180a5de00.--Uniswap Labs is running a $15.5 million bug bounty for critical bugs found in Uniswap v4, the largest bug bounty crypto has ever seen!This bug bounty follows nine independent audits of the protocol, and aims to make it one of the most rigorously reviewed codebases ever deployed to Ethereum.You’ll find all the information you need about the bug bounty, from eligibility and scope to, of course, details about rewards and prize payouts in the following link: https://v4.uniswap.org/?utm_medium=podcast&utm_source=bellcurve&utm_campaign=11-24-v4--Morpho is a permissionless lending platform that allows anyone to earn yield and borrow assets on your terms.Its flexible, trustless infrastructure also empowers developers and businesses to build and tailor their own financial products.Whether you're an individual, fund, fintech, or institution, Morpho is for you.Try Morpho today: https://app.morpho.org/?network=mainnet&spdl=99nsk9--Join us at DAS NYC 2025!  Use code BELL10 for a 10% discount: https://blockworks.co/event/digital-asset-summit-2025-new-york--Follow Pure Markets: https://x.com/pure_marketsFollow Whetstone: https://x.com/whetstonedotccFollow Austin: https://x.com/AustinAdams10Follow Jesse: https://x.com/jessewldnFollow Mike: https://x.com/MikeIppolito_Subscribe on YouTube: https://bit.ly/3R1D1D9Subscribe on Apple: https://apple.co/3pQTfmDSubscribe on Spotify: https://spoti.fi/3cpKZXHGet top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx--Timestamps:(0:00) Introduction(1:59) The DEX Landscape Today(6:29) Vertical Integration in DeFi(11:27) The Steady Growth of DEX Market Share(19:49) Ledger Ad(20:07) Can Ethereum Regain Market Share From Solana?(25:05) Pain Points of Token Issuance(36:24) Ledger Ad(36:59) Doppler's Design(47:04) Ads (Uniswap and Morpho)(48:25) Launching as a Uniswap v4 Hook(56:05) Pure Markets(58:43) DEX Design Trends(1:01:25) Token Issuance & Progressive Decentralization--Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.

This conversation features Hasu, a thought leader on liquid staking, and Konstantin Lomashuk, co-founder of Lido and Cyberfund, shedding light on Lido v3's transformative role. They dive into the evolution of liquid staking, discussing institutional needs and the new marketplace model. Key topics include the enhanced fungibility of stETH and Lido's architectural advancements focusing on decentralization and risk management. Their insights provide a comprehensive view of how Lido is addressing both regulatory challenges and institutional demands in the staking landscape.

Recent market volatility is shaking up the cryptocurrency landscape, with Bitcoin and Ethereum experiencing wild price swings. Tether's growing influence in the stablecoin sector raises questions about the future of crypto regulation. The journey of MicroStrategy's shifting investment strategy further emphasizes the impact of key players on market dynamics. Innovations in DeFi, including new lending protocols, are shaping the future of finance, while the increasing supply of stablecoins like DAI indicates evolving opportunities in yield farming.

The podcast dives into the recent crypto liquidation events, spotlighting Bitcoin's stability amid a market downturn. It explores the challenges facing altcoins and introduces innovative shorting strategies for low liquidity. The discussion highlights geopolitical tensions affecting tariffs and U.S. foreign policy, emphasizing Bitcoin's role in a multipolar world. Additionally, an advanced AI trading bot is introduced, aiming to help traders navigate market fluctuations effectively. Personal anecdotes provide insights into adapting strategies for today's volatile environment.

Austin Adams, Founder of Whetstone Research and former Uniswap Labs researcher, joins Jim Parillo and Myles O’Neil for a lively discussion about the memecoin craze and the innovations of decentralized exchanges. They dive into the dynamics of PumpFun and Uniswap V4, highlighting how these platforms simplify trading. The trio explores liquidity strategies and the psychological toll of fast-paced market trends, while also questioning the impact of regulatory clarity on crypto innovation. Join them as they dissect the future of digital asset monetization!

Dive into the fascinating implications of DeepSeek on AI and crypto markets, likened to a pivotal moment in tech history. Discuss the bullish sentiment surrounding AI investment and its ripple effects on decentralized finance and gaming. Explore advancements in DeFi with Aptos and the growth of decentralized exchanges. The conversation also tackles the challenges of asset listings in crypto, the importance of utility in new tokens, and evolving safety initiatives like Uniswap's bug bounty amidst positive regulatory shifts. Banks are adapting to blockchain, bridging traditional and decentralized finance.

In this discussion, Guy Young, a DeFi expert, and Sam MacPherson, who specializes in yield dynamics, delve into the fascinating world of decentralized finance. They analyze the evolution of yield sources, from collateralized lending to innovative tokenized treasury products. The duo also breaks down the impact of market cycles on funding rates and the stablecoin landscape. Additionally, they explore the future of American DeFi and the promising relationship between Ethena and Spark, highlighting upcoming trends and strategies.

Uma Shankar, Co-founder and CEO of Sysinkt, dives deep into the evolving landscape of cryptocurrency. He explores the intriguing implications of the Trump token phenomenon and its impact on blockchain infrastructure. The discussion highlights Solana's performance amid challenges and the competitive dynamics with Ethereum's rollup ecosystem. Shankar also addresses the cultural hurdles within the Ethereum Foundation and advocates for necessary reforms, emphasizing the importance of innovation and user-centric development in the rapidly shifting blockchain space.

Jim Parillo from Figment Capital and Myles O’Neil from Delta dive into the intricacies of go-to-market strategies in the crypto space. They discuss the importance of token economics and user incentivization for startup success. The conversation also covers the phases of growth and how to identify target users at each stage. Additionally, they share insights on product positioning, community engagement, and lessons learned from pioneering founders that continue to shape the industry.

Dive into the wild world of crypto as Trump’s ‘Crypto Ball’ sparks debate! Unpack inflation fears and their impact on economic strategies while exploring four-year cycles in the crypto realm. Discover Berachain’s groundbreaking 'Proof of Liquidity' and how it’s reshaping DeFi dynamics. The conversation wraps up with insights on Ethereum’s declining staking rates, raising questions about the future of liquid staking. A whirlwind of insights for every crypto enthusiast!