“TVL, incentives, yield-bearing products.” Jonathan Libby, DeFi Lead at Gauntlet, used that phrase to describe what DeFi often optimizes for today — and why institutions hesitate. ETHDenver 2026 he emphasized traditional markets prioritize execution quality, protection of trading information, and risk mitigation. DeFi infrastructure still lags on those fronts. Libby pointed specifically to “MEV defense… risk mitigation and information leakage” as gaps that need improvement. He also suggested a structural shift: curator-managed vaults where professional allocators manage strategies. The structural takeaway: ✅ Execution quality matters more than raw liquidity ✅ MEV and information leakage deter institutions ✅ Curator-managed vaults may structure capital allocation ✅ Track record becomes a primary selection signal Institutional DeFi may look less like open experimentation and more like professionally managed strategy platforms. Follow - @Johnny for more grounded insights. #nostr #grownostr #defi #BTC #Bitcoin