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Summary

In this episode, Lyron Co Ting Keh, co-founder and CEO of Seismic Systems, shares the story behind their recent funding round and what Seismic is building—a blockchain platform for encrypted financial services. Lyron explains how the current financial infrastructure still meets the minimum bar for most users, but fails to serve more sensitive or complex needs, especially around B2B lending and credit.

He talks about how Seismic is tackling fragmentation in crypto, offering a unified and encrypted environment that can support native applications and allow for meaningful experimentation. Lyron reflects on the importance of deep user research, how his background in AI influences Seismic’s design choices, and why long-term thinking is essential when building in crypto. He also outlines their roadmap, the role of the community, and how Seismic plans to empower underserved small businesses.

We also go into how to pitch to VC's and why Polychain Capital, a16z, saw that was special in Lyron and Seismic Systems.

Takeaways

— Seismic focuses on high-sensitivity payment flows, bringing encrypted financial services on-chain.

— Most existing systems are “good enough,” but don’t meet the needs of more complex or privacy-sensitive users.

— A major problem in crypto is fragmented encryption—Seismic aims to solve that by unifying the environment.

— The team is building native apps from the ground up, informed by deep user research.

— Fragmentation in crypto complicates order routing and transaction execution.

— Seismic targets the SMB lending market, which is underserved and inefficient.

— Crypto provides structural advantages for underwriting and loan distribution.

— Seismic’s model includes incentivizing developers and users in differentiated ways.

— Community engagement is core to Seismic’s long-term strategy.

— Lyron draws inspiration from AI and emphasizes faster iteration and feedback loops.

— The roadmap includes beta testing, developer incentives, and a full mainnet launch.

Timeline

(00:00) Introduction to Seismic Systems and Funding Announcement

(01:43) Understanding Seismic’s Market and Value Proposition

(06:21) Seismic’s Unique Approach to Encrypted DeFi

(12:14) Incubation of Native Applications for Seismic

(15:02) Lyron’s Journey into Crypto and Seismic’s Development

(17:17) User Research and Identifying Market Needs

(21:52) Challenges in Feedback Loops and Market Signals

(26:07) Understanding Fragmentation in Crypto Transactions

(28:18) Seismic’s Approach to Credit and Lending

(29:09) The Challenges of SMB Lending

(32:32) Innovations in Underwriting with Crypto

(34:09) Seismic’s Business Model and Community Engagement

(39:21) Roadmap and Future Plans for Seismic

(41:04) Incentivizing Community and Developer Engagement

(45:41) Inspirations and Influences Beyond Crypto

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Summary

In this conversation, Sehaj, co-founder of Avantis, reflects on the arc of DeFi—from its early experimental phase (1.0), through the token-incentivized wave (2.0), to today's DeFi 3.0, which he describes as a period of financial nihilism. Against that backdrop, he introduces Avantis: a trading platform designed to rekindle energy in the space through zero-fee perpetuals, real-world asset integration, and a community-first approach.

Sehaj explains that Avantis is built for on-chain traders who want yield, macro exposure, and a more engaging experience. To that end, they've developed features like XP Leagues to gamify the platform and make trading more interactive. He also talks about the roadmap ahead—new trading primitives, deeper community involvement, and the long-term vision of creating a thriving, user-owned ecosystem.

Takeaways

— DeFi has moved through three major phases: 1.0 (experimentation), 2.0 (token incentives), and 3.0 (financial nihilism)
— Avantis is built to re-energize DeFi with zero-fee perpetuals and real-world asset trading
— Real-world assets open the door to new kinds of on-chain trading opportunities
— The platform is designed for active, yield-seeking on-chain traders
— Community is central—Avantis grows through engaged users and creative incentives
— XP Leagues introduce gamification that rewards participation and competition
— Avantis is intentionally building for long-term utility, not short-term hype
— Trading volume and participation so far show strong early traction
— Future product primitives are already in development to expand platform capabilities
— Sehaj invites open dialogue and feedback from the community

Chapters

(00:00) The Evolution of DeFi: From 1.0 to 3.0
(04:00) Introducing Avantis: A New Era in DeFi
(08:09) Real World Assets: A Game Changer for Traders
(11:57) Target Audience and Market Strategy for Avantis
(16:05) Building Community and Engagement in DeFi
(19:53) Future Primitives and Innovations at Avantis

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Learning about the perp DEX category was really educational for me and I appreciate speaking with @josebetandcourt about his project @0xVDEX, which is shaping up to be a serious contender to @HyperliquidX.

Specifically in comparison to Hyperliquid, among other differences, here are a few he called out:

— “They’ve gone for the build your own chain approach… we like to horizontally scale.”

— “They’re completely masquerading as a decentralized exchange but can roll back the chain as they did.”

— Jose emphasizes VDEX’s virtual rollup and state channel tech, zero-knowledge, which enables sub-millisecond finality, true self-custody, and no gas—features that Hyperliquid doesn’t offer.

— Jose positions VDEX as more accessible: no KYC, no VPN, and usable in regions Hyperliquid geo-blocks like Japan and the U.S.

You won't want to miss this one.

Summary

In this conversation, Jose Betancourt, founder of VDEX, shares his journey from crypto trader to builder—shaped by firsthand frustration with the complexity of DeFi platforms.

— He explains how VDEX was born out of a desire to fix broken user experiences in crypto, especially around perpetual trading.

— Jose walks through how VDEX blends self-custody, security, and a smoother UX to serve both retail users and crypto natives.

— The conversation dives into the platform’s omnichain architecture, product differentiation, and why user feedback drives their roadmap.

— Jose also opens up about the challenges of growth, community engagement, and what’s coming next for VDEX as it moves toward mainnet.

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Takeaways

— Jose started in crypto as a trader focused on improving user experience.

— User experience remains a major barrier to wider crypto adoption.

— VDEX tackles these issues through its omnichain architecture.

— Self-custody is a foundational principle in VDEX’s design.

— The platform serves both crypto-native users and retail traders.

— VDEX has six unique selling points that distinguish it from the competition.

— Strategic partnerships are central to VDEX’s long-term growth.

— Community engagement is key to building trust and loyalty.

— Positive user feedback shapes ongoing product development.

— VDEX plans to expand to more chains and add higher leverage options.

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Chapters

(00:00) The Journey into Crypto

(03:06) User Experience Challenges in Crypto

(06:06) Introducing VDEX: The Omnichain PerpDex

(08:57) Building VDEX: Addressing Market Needs

(11:53) Target Audience and Market Positioning

(15:12) Strategic Partnerships and Competitors

(18:00) Marketing and Growth Strategies

(20:59) Community Building and User Engagement

(24:02) Feedback and Iteration Process

(27:01) The Future of Bitcoin in DeFi

(29:51) Plans for VDEX’s Expansion and Mainnet Launch

Follow me @shmula on X for upcoming episodes and to get in touch with me.