Centralized exchanges will be DeFi front ends in 5–10 years: 1inch co-founder
1inch co-founder Sergej Kunz said centralized crypto exchanges will gradually fade and serve only as frontends for decentralized finance.
Centralized crypto exchanges could disappear within the next decade as decentralized finance (DeFi) aggregators take over, according to 1inch co-founder Sergej Kunz.
In an interview with Cointelegraph at Token2049 in Singapore, Kunz predicted that exchanges will slowly transition into frontends for decentralized exchanges (DEXs). “I think it will take like five to 10 years,” he said.
Kunz argued that while centralized exchanges are isolated markets, 1inch and its aggregator act as a global liquidity hub. His comments came as 1inch announced a deal with major US crypto exchange Coinbase, integrating its service to provide DEX trading to its users.