The entry barriers for DeFi are indeed undergoing a profound transformation. I remember those years when building a decent trading infrastructure often required burning hundreds of millions of dollars in investment, with various infrastructure, liquidity, and risk control systems all being exorbitantly expensive. Now, the situation is different — with next-generation infrastructure solutions, this system can run on a few hundred dollars, and the initial configuration process has become relatively standardized.

But what’s truly worth noting is not just how much cheaper the costs have become. The key is that the architecture design has become smarter. Once the logic of shared liquidity is unlocked, efficiency begins to increase exponentially — over two thousand DEXs are no longer isolated liquidity islands but can interconnect and communicate. This abstract progress is fundamentally changing the competitive landscape of the market.