# The Future of On-Chain Liquidity | Ran Hammer - Orbs

- Speakers: [Ran Hammer](https://streameth.org/speakers/ran-hammer)
- Channel: [Ethereum Denver](https://streameth.org/ethereum-denver)
- Date: 2024-10-09
- Duration: 17:22
- Topics: blockchain, web3, ethereum, Entertainment
- Watch: https://streameth.org/watch/yt-26OhVhPcnrc
- YouTube: https://www.youtube.com/watch?v=26OhVhPcnrc

## Description

The next bull market will be on-chain. Counter-party risks and the strict regulatory environment have made CeFi unappealing and, in some cases, inaccessible for retail. 

Institutional clients have been unable to participate on-chain as the prices in CeFi are cheaper, with the liquidity on-chain being highly fragmented 

As such, we've wound up with the popular phrase "LP last" as aggregators are more competitive than DEX prices

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