Summary
TLDR: Market makers like Jump see value in Figure Markets’ decentralization and cross-collateralization, but flagged liquidity issues for lend/borrow and accessing capital, with only hundreds of millions available for lending in an industry that could need billions daily.
Key Points
1. Market makers like Jump found value in Figure Markets’ decentralization and the possibilities of cross-collateralization.
2. The issue of liquidity for lend/borrow was flagged by market makers, highlighting challenges in accessing capital from a lend/borrow standpoint in the crypto industry.
3. Prime brokers in crypto have limited capital available for lending, with only hundreds of millions of dollars available despite the potential need for billions of dollars of capital daily.