A second question. I learned from @kelvin to rethink whether everything DeFi should necessarily happen “on chain” (or at “layer 1”). E.g. “Fast DeFi” needs to happen quickly, but perhaps it can happen quickly at some higher level and be settled more slowly on the chain. I think some of what he writes in this post is relevant: High-frequency trading and the MEV auction debate
I generally expect to see proliferation of “semi-trusted” exchanges and platforms in the future. I picture these being cheaper and more efficient than anything based on smart contracts on-chain. They could offer anonymity and instant resolution through DeFi-like APIs, but they would be less secure as you’d have to put some trust in the institution (not the other participants) which syncs regularly to the main chain.
So my question is, do you see that as a desirable option, and do you think they might help achieve anonymity/instant resolution/recourse at a cost of security/trust?