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Season 2Episode 03

The Interop Stress Test

Philipp Zentner · LI.FI

About this episode

In this episode of Bullish on Bitcoin Show, Alexei is joined by Philipp Zentner, CEO and co-founder of LI.FI — one of the leading cross-chain aggregation and DeFi infrastructure protocols in the space, with over $80 billion in transaction volume and more than 1,100 active B2B partners.

They go deep on the evolution of cross-chain bridging, the rise of intent-based architectures, why Bitcoin on-chain trading is still a fraction of centralised exchange volume, the case for and against tokens, and how AI is reshaping both the attack and defence landscape in DeFi security.

In this episode:

  • How LI.FI was built: from bridge aggregation to a full investment API for DeFi
  • The three bridge architectures explained: mint & burn, liquidity networks, and intent systems
  • Why bridge aggregation is essential — and why no single design wins
  • Fixed-rate quoting: why demand is still low today — and why TradFi will change that
  • Why Bitcoin on-chain trading is still a fraction of CEX volume — and what's holding it back
  • BOB's fixed-rate Bitcoin swap product: currently in beta testing
  • Tokens: the bull case, the abuse problem, and why LI.FI built a $80B business without one
  • AI in DeFi security: double-edged sword or net positive?
  • Why smaller unmaintained protocols are getting systematically exploited
  • The KelpDAO hack: key mismanagement, RPC node attacks, and what it tells us about the space
  • DeFi vs. centralised custodians: why protocols get stronger over time — and why corruption is the bigger risk
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