2026-01-09 03:28:18

More and more exchanges are starting to offer traditional financial products on-chain. Recently, leading exchanges launched 24/7 perpetual contracts based on USDT, which is quite an interesting move. Many platforms are following this trend—bringing stocks, forex, commodities, and other traditional assets onto the blockchain.

The logic behind this is quite clear: the efficiency advantages of on-chain trading, 24/7 market availability, and lower entry barriers—all of which traditional financial markets can't match. But the question is, will the true future really be "on-chain trading of TradFi"? Or is this just a transitional product form?

Currently, it seems like exchanges are filling a market gap—users want more flexible trading hours and lower trading friction, and the on-chain infrastructure is now sufficient to support such demand. However, to truly replace traditional financial markets, it still depends on whether regulation, liquidity depth, and user education can keep up.

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ClassicDumpster

· 10h ago

Basically, this is the exchange being greedy. Moving TradFi onto the chain is just about wanting to take a bite out of the traditional finance cake, but they can't get past the regulatory hurdle. The liquidity depth is simply not enough, yet they still want to replace it? Dream on. Listening 24/7 is enjoyable, but when you're losing money, it's also 24/7, haha.

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GasFeeCrying

· 16h ago

This is just the beginning of traditional finance cutting leeks on the chain, just a change of skin.

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ImpermanentPhilosopher

· 01-09 03:56

Haha, regulation is always a stumbling block. It's not even about replacing it; coexistence would be good enough.

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GateUser-44a00d6c

· 01-09 03:54

Regulation will never be passed, don't be too optimistic, brother.

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GoldDiggerDuck

· 01-09 03:32

It still seems more like a gimmick than actual progress. If you really want to challenge traditional finance's territory, you won't get past the regulatory hurdle. On-chain TradFi sounds flashy, but what about liquidity depth? 24/7 trading sounds great, but when a black swan event hits, it can still collapse just like before. This wave of trend-following exchanges probably just want to cut another wave of leeks. Moving stocks onto the chain? Better improve your risk control first. The perpetual contract USDT version is back again. Why bother? It's just adding leverage for gamblers.

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TokenomicsTrapper

· 01-09 03:28

lol "7×24 market" they say... actually if you read the contract these perpetuals are literally just fancy liquidation machines. watched this exact play unfold three times already—they pump the volume metrics, vcs dump their unlock schedules, retail gets absolutely wrecked on leverage. textbook greater fool theory tbh

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