Current track
Modern Frontier
Concentrated liquidity, POL, tokenized yield.
Uniswap v3
Concentrated liquidity: LPs pick price ranges. Up to ~4000× capital efficiency, active risk.
TradFi: Limit-order market making / short straddle
OHM — OlympusDAO
OlympusDAO — protocol-owned liquidity via bonds, rebase staking, (3,3) game theory.
TradFi: Central bank OMO + prisoner's dilemma
Pendle
Yield tokenization: split yield-bearing assets into PT (principal) + YT (yield).
TradFi: Bond stripping (STRIPS) + rate swaps
Fluid
Unified liquidity layer — one pool of capital serving lending, vaults and DEX at once.
TradFi: Prime brokerage cross-margining
Euler
Permissionless lending with risk-tiered assets, reactive PID rates, soft liquidations.
TradFi: Risk-tiered prime brokerage