Navigating DeFi And Institutional Crypto Adoption: Key Insights From Hack Seasons Seoul’s ‘Bull Market Survivors’ Panel
In Brief
The Hack Seasons Seoul Opportunity Mixer explored strategies for resilient DeFi projects, institutional adoption, and community-driven growth in the cryptocurrency and Web3 ecosystem.
On September 24th, Hack Seasons hosted the Opportunity Mixer in Seoul, bringing together founders, investors, and members of the crypto community to discuss the key trends influencing the Web3 and cryptocurrency landscape today. One of the featured panel discussions, titled “Bull Market Survivors,” was moderated by Will, Growth Partner at Credit Scend, and included speakers such as Tika, Head of Global International Business Development at KuCoin; Wilson, CEO of Honeypot Finance; Kris Lai, Co-Founder and CEO of Scallop; Hannah, Global Partnerships at beraBTC; and Kenny Li, Founder of Manta Network. The session focused on strategies for navigating volatile markets and insights into building resilient, long-lasting projects.
The discussion began by addressing the challenge of TVL and fragmented liquidity in decentralized finance (DeFi), and how certain companies are tackling problems that others cannot. Wilson from Honeypot explained that TVL is a significant issue because DeFi largely relies on output-based models, which require liquidity to be actively used on decentralized exchanges. If tokens are not being traded, no APY is generated. Honeypot addresses this with a specialized approach: a swap incentivization plugin that directly rewards users for participation, and a system that reinvests trading fees received by liquidity providers into various lending protocols, further boosting yields. This combination is their solution to the TVL challenge.
A speaker from Scallop described how their lending protocol differentiates itself in the DeFi landscape. Built as a next-generation money market on the Sui blockchain, Scallop employs a unique model that separates lending assets from collateral assets. This ensures that lending assets are always available for loans while collateral assets are protected from being borrowed, allowing the protocol to maintain sufficient liquidity for potential liquidations. This approach provides one of the strongest risk management frameworks in the industry. Scallop also offers a lending derivative called Scallop Market Coins, where users lending USDC receive sUSDC, which can be reused within the protocol to maximize efficiency. Additionally, their voting escrow (VE) model allows institutional users or family offices to optimize cryptocurrency exposure with high security and robust risk management.
The conversation then shifted to how Manta Network approaches creating sustainable yet attractive incentives for both users and institutions amid growing crypto adoption. Kenny Li explained that as a Layer 2 network, Manta is particularly focused on DeFi yield for institutional funds. These institutions often come from traditional finance and may not be familiar with DeFi mechanics, such as token swaps and yield loops. Manta aims to translate familiar financial tools onto the blockchain while leveraging on-chain mechanics to generate yields that are 10 to 20 times higher than traditional index funds. By combining institutional familiarity with the benefits of decentralization, Manta provides a way for traditional players to access Web3 yields in a secure, scalable manner.
Bridging TradFi And Crypto: KuCoin, Manta, And beraBTC Discuss Institutional Adoption And DeFi Innovation
The conversation then shifted to the role of exchanges in bridging traditional finance with cryptocurrencies. Tika from KuCoin discussed how the platform is adapting to the evolving regulatory landscape of the cryptocurrency sector. Over the past two years, institutions have increasingly participated in the bull market, entering the crypto space as regulatory frameworks improved. KuCoin has positioned itself as a gateway for these institutions, maintaining ongoing dialogue with regulators to ensure compliance and update relevant licenses.
Kenny Li from Manta shared his perspective on the evolving relationship between centralised finance (CeFi) and DeFi over the next five to ten years. In the short term, spanning two to five years, traditional banks may struggle to capture on-chain yield opportunities, and their existing models often return only a portion of the value generated from customer funds. DeFi, by contrast, is entirely user-owned, offering competitive opportunities for higher returns. As institutional participation grows, awareness of the advantages of on-chain activity is likely to increase, potentially shifting user preferences from traditional banks to DeFi platforms offering 10-15% yields. Over a longer horizon of five to ten years, Li suggested, the very concept of banking could be fundamentally transformed, forcing traditional financial institutions to reevaluate their role in the market.
The discussion also touched on security measures implemented by Scallop and examined the growing Bitcoin and BTCFi infrastructure. Honeypot highlighted how communities and DAOs can leverage the platform to bootstrap their own token liquidity, creating decentralized opportunities for engagement.
The panel concluded with Hannah from beraBTC providing her outlook on the BTCFi ecosystem over the next one to two years. She emphasized efforts to bring more Bitcoin on-chain while expanding participation among individual users and communities. Recent initiatives, such as a 10,000-node sale involving over 3,000 participants, allow community members to mine and directly own Bitcoin. Hannah noted that these efforts are aimed at increasing individual ownership and engagement with Bitcoin in the short term, highlighting the growing role of community-driven initiatives alongside institutional involvement.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
