[EraYaN]

Most of the financial services and systems are all still on very boring old databases (hell quite some cobol still touches a ton of it). Since well they don't need to get hype funding for their Series A or whatever. Databases are just pretty good and processing data efficiently. It's a tiny tiny part that actually runs on some blockchain.

[yieldcrv]

there are hundreds of billions, maybe trillions in volume going through financial services on blockchains

and yes that is a tiny fraction of all financial services volume at all, or even involving crypto assets.

I was referring to the traffic onchain as that’s what’s interesting

permissionless liquidity providing in unincorporated partnerships is still novel and unique to those platforms and highly lucrative. on assets that dont need permission to be listed anywhere.