Implementing AMMs was new to me. I hadn't seen that before.

AFAIK AMMs are a workaround for the fact that Ethereum smart contracts are too slow to implement a normal order book matching engine.

I didn't mean any of the tech in crypto isn't new, I'm bullish on the ecosystem in general. Was simply saying paying for market share is nothing new.

However, AMM's are not new to crypto. The only thing new about crypto AMM's is that plebs like me can invest in them. Usually they are reserved for the wealthy elite, where back room deals and orderflows are handshakes instead of smart contracts.

However, it is still technically illegal for US plebs to access AMM's(Non-accreddited).

HN doesn't want to talk about technology on this subject

The technology is just a front, marketing material. It's not meant to be taken seriously. Even most crypto investors have the same mindset

This is not true. Here's one example: perpetual swaps weren't a thing until Bitmex implemented them.

To add to what others have said, Flash Loans and Self-Repaying Loans don't have TradFi analogs.

Consensus capital markets are fairly novel: https://mirror.xyz/alkimiya-protocol.eth/PbTyQ3JnVtGq54fLjDr...

Okay - I am fairly bullish on crypto, but it's this kind of thing that gives the rest of crypto a bad name.

Consensus Capital Markets gives validators even more incentive to collude, Just like MEV. There has been numerous occasions where MEV has broken concensus. Theoretically these two concepts are the antithesis of what a blockchain is supposed to do.

These kind of 'Innovations' in harming the ecosystem tremendously. They are taking the centralized nature of normal orderbooks and trying to shove that into crypto.

Mirror was one of the reasons Terra failed and this concensus capital markets allowed the validators to absolutely make a killing during the collapse.