The future of DeFi and onchain money markets with Theo Network & Felix Protocol
Episode 45 of The Crypto Beat was recorded with The Block's Co-Hosts Kelvin Sparks and Tim Copeland, who were joined by Theo co-founder TK Kwon and Felix Protocol co-founder Charlie.Listen below, and subscribe to The Crypto Beat on YouTube, Apple, Spotify, Twitch, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected] this episode of the Crypto Beat, Tim Copeland and Kelvin Sparks are joined by Theo co-founder TK Kwon and Felix co-founder Charlie to discuss the rapid evolution of DeFi through real-world assets, cross-chain liquidity, and the growing role of institutional capital in on-chain finance.OUTLINE 00:00 - Introduction 04:44 - Product-First vs. Ecosystem-First Chains 06:43 - Challenges and Merits of Product-Led Development 08:06 - Evolving DeFi Metrics: TVL to Utilization 13:22 - Who Uses RWAs and Why They Matter 15:05 - Tokenized Equities and On-Chain Assets 19:02 - Permissioned and Permissionless Systems 23:41 - Liquidity and Market Making as the Next Unlock 27:08 - Forecasts for Institutional Growth 28:13 - Regulatory Catalysts 31:14 - Retail-Friendly Chains and Mass Adoption 32:50 - Stablecoin Chains: Innovation or Hype? 34:47 - Closing Remarks Guest links: Charlie - https://x.com/0xBroze Felix - https://x.com/felixprotocol TK - https://x.com/kt_nowk Theo Network - https://x.com/Theo_Network The Block Newsletters The Block's newsletters bring you the latest news and analysis of the fast-moving crypto and DeFi markets. To subscribe, visit theblock.co/newslettersAre you hiring in crypto? Use Campus to quickly find your best candidates with our challenging Crypto Assessment Test. Faster hiring, stronger teams.Sign up for a trial today: theblock.co/campusDisclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.