Diego Perez de Ayala says the industry chased the wrong bet for years, and the trillions are in rebuilding the financial system itself.

Diego, known as Solana Legend, joins Andy and Rob live from the Empire State Building to lay out the thesis behind Frictionless. They talk about why the nouns of Wall Street are already onchain but its verbs are still early, the race to get licensed before the regulatory window shuts, and why tokenization today looks like stablecoins in 2014. He also covers the incumbents' Kodak dilemma, why chains that ignore capital markets won't survive, and what could justify trillion-dollar layer ones.

Diego Perez de Ayala, known as Solana Legend, is Co-Founder of Frictionless, backing onchain trading and capital markets infrastructure including Backpack and Titan.

Finance is being rewritten on the internet, and only one in twenty of its functions has been built.

Timestamps:

00:00 Intro

01:21 Web 3.0 Narrative Proved Largely False

04:08 Funding The Verbs Not The Nouns

06:10 Licenses Race Before The Window Shuts

10:24 Tokenization Looks Like 2014 Before Tether

13:00 How Wall Street Actually Comes Onchain

15:26 Companies Earning A Billion A Month

17:27 Incumbents Face The Kodak Dilemma

21:29 Missing 24/7 Trading Is A Scam

23:47 Chains Ignoring Capital Markets Are Cooked

26:18 Do Layer Ones Justify Trillion Valuations

30:10 Return Dispersion Lets Investors Outperform

32:30 One Out Of Twenty Verbs Built

Guest Socials:

Diego Perez de Ayala X: https://x.com/SolanaLegend

Frictionless X: https://x.com/FrictionlessVC

Frictionless Website: https://frictionless.capital/

Partners:

Space and Time is providing verifiable data infrastructure for onchain finance. A decentralized database, blockchain indexer, and ZK coprocessor in one, giving DeFi protocols,stablecoins, and tokenized assets accurate, provable data.

---

Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.

Learn more here: https://www.zama.org/

---

Website: https://therollup.co/

Spotify: https://open.spotify.com/show/1P6ZeYd9vbF3hJA2n7qoL5

Podcast: https://therollup.co/category/podcast

Follow us on X: https://www.x.com/therollupco

Follow Rob on X: https://x.com/robbieklages

Follow Andy on X: https://x.com/andyyy

Join our TG group: https://t.me/+TsM1CRpWFgk1NGZh

The Rollup Disclosures: https://goodidea.ventures

DISCLAIMER: Investing in cryptocurrency and DeFi platforms comes with inherent risks including technical risk, human error, platform failure and more. At certain points throughout this channel, we may earn a commission or fee as a sponsorship, if this is the case we will always make sure it is clear. We are strictly an educational content platform, nothing we offer is financial advice. We are not professionals or licensed advisors.

Diego Perez de Ayala: Wall Street Is Going Onchain (Frictionless)

The Rollup

Diego Perez de Ayala: Wall Street Is Going Onchain (Frictionless)