You know what is funny? For years CEX traders laughed at DeFi and mocked them for no order books & depth charts and called it 'pools of liquidity sloshing around'. What happened now? Simple👇🏻

We got: MEV, gas fees, and slippage and suddenly the joke wasn’t funny anymore xD

Slippage turned big trades into slowmotion disasters. 
It ended badly for everyone.

I am more interested in what happens next. 
I have a few observations: 
a) AI first liquidity markets that react before inefficiencies appear. 
b) Auction like execution where traders bid dynamically instead of relying on static limit orders. 
c) Cross chain liquidity aggregation to break walls between fractured pools.

I think a great summary is that liquidity is not just about stacking buy and sell orders but more about execution that actually works.

I also think the most efficient market structure is the one that won’t look like CEXs or AMMs. It will look like something we haven’t built yet (there is some alpha here). What do you think?