The Future of DeFi Trading: Routers, Perps, and MCP | Eugene Chen

The Future of DeFi Trading: Routers, Perps, and MCP | Eugene Chen

From Lightspeed by Blockworks

March 31, 2026 · 55 min

About this episode

Eugene Chen discusses the future of DeFi trading and the launch of Phoenix Perps on Solana.

Gm! In this episode, Eugene Chen, CEO of Ellipsis Labs, joins us to break down Solana’s evolving market structure and the launch of Phoenix Perps. We explore onchain trading design, routing and sequencing challenges, MCP’s role, and how user behavior and incentives are shaping the future of DeFi. Enjoy! -- Follow Lightspeed: https://x.com/Lightspeedpodhq Follow Ellipsis Labs: https://x.com/ellipsis_labs Follow Eugene: https://x.com/0xShitTrader Follow Danny: https://x.com/defi_kay_ Join the Lightspeed Telegram: ⁠https://t.me/+QHlbNTNS4gc1ZTVh -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (2:25) Solana Market Structure Shift (8:07) Why Phoenix Perps Now (21:16) Why Perps Need No Router (29:39) What Solana Must Improve (34:49) The Block Builder Problem (43:24) Will DeFi Mimic TradFi? (52:48) Phoenix Perps Launch Plans (53:38) Closing Comments -- Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any…

People in this episode

Host: Danny

Guest: Eugene Chen

Topics covered

  • DeFi
  • trading
  • Solana
  • market structure
  • Phoenix Perps
  • onchain trading

Keywords

  • DeFi
  • trading design
  • routing
  • sequencing
  • MCP
  • user behavior
  • incentives

Mentioned in this episode

Organizations: Ellipsis Labs, Solana Foundation

More episodes of Lightspeed

Explore listener stats, chart rankings, contacts and more on the Lightspeed podcast page.