EPISODE · Jan 14, 2026 · 2 MIN
DeFi’s Volume Shift: How Perp DEXs Pulled Liquidity On-Chain
from alpha un# podcast · host Sri Misra
Perp DEXs have become the catalyst pushing crypto volumes on-chain.Host Sri Misra speaks with Jakob Palmstierna, President of GSR, to unpack Hyperliquid’s rise, DEX vs. CEX dynamics, and the challenge of building liquidity on decentralized venues. Why traders are choosing certainty of execution over ideology and what it means for LPs.Actionable insights for builders, traders, and market makers.Full episode at: unhashed.co/jakob
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DeFi’s Volume Shift: How Perp DEXs Pulled Liquidity On-Chain
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