EPISODE · Mar 12, 2026 · 24 MIN
#228 MacBrennan Peet | The DeFi Problem No One Talks About
from Stonks Go Moon · host Rocco Strydom
DeFi was supposed to make capital more efficient. Instead, it created a new kind of fragmentation.In this episode of the Stonks Go Moon Podcast, Rocco Strydom sits down with MacBrennan Peet, founder of Project 0, to talk about why DeFi users still get stuck with scattered collateral, disconnected venues, poor capital efficiency, and unnecessary liquidation risk. Project 0 is building a prime brokerage layer on Solana designed to unify portfolio management across venues like Kamino, Drift, and Jupiter Lend.MacBrennan’s background is unusually deep for someone still so young. He started trading biotech and pharma names as a teenager, later worked on projects with Morgan Stanley and in private equity, helped build marginfi, and has spent years inside Solana DeFi infrastructure. That background shows up in this conversation because this is not a hype-driven crypto interview. It is a practical discussion about market structure, fragmented liquidity, basis trades, unified margin, and what DeFi still gets wrong.We get into:why DeFi became more fragmented even though blockchains were supposed to unify everythinghow users lose yield and capital efficiency when assets sit across multiple venueswhy “unified margin” matters more than most retail users realizehow Project 0 is approaching Kamino, Drift, and Jupiter integrationsthe difference between DeFi-native opportunities and simply rebuilding TradFi onchainwhy Solana is becoming a serious environment for more advanced trading infrastructurewhat comes next once lending and perps are tied together more efficientlyOne of the most interesting ideas in this episode is that DeFi may not win by copying traditional finance feature for feature. It may win by leaning harder into what only onchain systems can do well: composability, speed, transparency, and new forms of capital efficiency. That is where Project 0 is aiming.
What this episode covers
DeFi was supposed to make capital more efficient. Instead, it created a new kind of fragmentation.In this episode of the Stonks Go Moon Podcast, Rocco Strydom sits down with MacBrennan Peet, founder of Project 0, to talk about why DeFi users still get stuck with scattered collateral, disconnected venues, poor capital efficiency, and unnecessary liquidation risk. Project 0 is building a prime brokerage layer on Solana designed to unify portfolio management across venues like Kamino, Drift, and Jupiter Lend.MacBrennan’s background is unusually deep for someone still so young. He started trading biotech and pharma names as a teenager, later worked on projects with Morgan Stanley and in private equity, helped build marginfi, and has spent years inside Solana DeFi infrastructure. That background shows up in this conversation because this is not a hype-driven crypto interview. It is a practical discussion about market structure, fragmented liquidity, basis trades, unified margin, and what DeFi still gets wrong.We get into:why DeFi became more fragmented even though blockchains were supposed to unify everythinghow users lose yield and capital efficiency when assets sit across multiple venueswhy “unified margin” matters more than most retail users realizehow Project 0 is approaching Kamino, Drift, and Jupiter integrationsthe difference between DeFi-native opportunities and simply rebuilding TradFi onchainwhy Solana is becoming a serious environment for more advanced trading infrastructurewhat comes next once lending and perps are tied together more efficientlyOne of the most interesting ideas in this episode is that DeFi may not win by copying traditional finance feature for feature. It may win by leaning harder into what only onchain systems can do well: composability, speed, transparency, and new forms of capital efficiency. That is where Project 0 is aiming.
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#228 MacBrennan Peet | The DeFi Problem No One Talks About
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