Building Sustainable L2 Liquidity: Overcoming Fragmentation & Deployment Challenges for Stablecoins

Sustainable liquidity on L2s is still unsolved. But Katana and GSR offer different pieces of the puzzle. Katana outlines its vertically integrated approach: stacking yield, aligning core apps, and owning protocol liquidity. GSR brings the market maker’s perspective, emphasizing incentives, institutional requirements, and capital efficiency. The discussion covers real yield, fragmentation challenges, and why opinionated chains may outcompete general-purpose networks. It's a sharp dive into what’s broken in L2 DeFi and what might fix it. Speakers: Marc Boiron, CEO, Polygon/Katana Jakob Palmstierna, President, GSR Moderator: Ivan Fartunov , Ecosystem Lead, Aragon --- 00:00 Introductions and Speaker Backgrounds 01:36 Why Fragmentation Hurts DeFi Liquidity 03:18 Katana’s Strategy: Opinionated Chains and Core Apps 04:43 VaultBridge, Sequencer Fees, and Real Yield 06:10 GSR on Market Maker Incentives and Liquidity Design 07:00 Stablecoin Deployment and Revenue Sharing 09:15 Capital Efficiency from a TradFi Lens 10:22 Building Long-Term Protocol Alignment 12:10 Chain-Owned Liquidity During Volatility 13:39 User Experience and Liquidity Fragmentation 14:53 Defining Productive vs Vanity TVL 16:25 Katana Ecosystem Participation 17:55 Future Yield Products and Fintech Integration --- Explore Upcoming Events 👇 ➣ Stable Summit III: Devconnect • Website: https://www.stablesummit.xyz/ • Email: info@stablesummit.xyz • Apply to Speak/Sponsor: https://partyactionpeople.typeform.com/devconnect2025?typeform-source=www.stablesummit.xyz ➣ Stablecoin Summit: Singapore by XREX & Unitas • Website: https://stablecoinsummit.com/ • Email: team@stablecoinssummit.com • Apply to Speak/Sponsor: https://partyactionpeople.typeform.com/stblcoin3?typeform-source=stablecoinsummit.com ➣ Blockchain Oracle Summit: Devconnect • Website: https://blockchainoraclesummit.io/ • Email: info@partyactionpeople.com • Apply to Speak/Sponsor: https://partyactionpeople.typeform.com/BOS25apply ➣ Listen to the Stable School Podcast Link: https://stableschool.org/podcast ➣ Follow Stable Summit on X Link: https://x.com/stable_summit — About: By Stake Capital Group and Party Action People, and presented by Curve Finance, Stable Summit has been gathering leaders in stablecoins almost quarterly since 2023. Our content is curated through hours of one-on-one research with the leading minds in the stablecoin space. Each program is a highlight reel of what leaders in stables are curious about in real time. Our audience consistently features the full spectrum of the stablecoin ecosystem, from DeFi protocols to institutions, from stablecoin issuers to central banks, and every llama in between.