In this episode, Su and Hasu talk about decentralized finance (DeFi).

Topics covered:
- What DeFi means to Su
- Why use DeFi over CeFi?
- Is the current demand organic or subsidized by VC money?
- Where users will allocate on the trust spectrum
- The delicate dance between regulatory arbitrage & attracting talent and capital
- The path to decentralization
- Most important DeFi use cases today and in the future
- How AMMs work and can be improved
- The core building blocks of DeFi
- Incentive mechanisms
- Tokenized balances
- Atomic transactions
- Will a boom in DeFi translate to ether?

Su Zhu is the CEO and CIO of Three Arrows Capital.
Hasu is a cryptocurrency researcher and writer.
Together, they publish on Deribit Insights and uncommoncore.co.