3 Big Milestones on My Journey from PhD to DeFi: Reflections on 2024 and Predictions for 2025
Reflections on 2024 and Predictions for 2025
Last year was an incredible experience filled with research, travel, and opportunities to present my work to some of the most brilliant minds in the blockchain and DeFi space. Thanks to my research at Matter Labs and the University of Zurich, I had the privilege of working with amazing people and engaging with leaders across the world. Here’s a reflection on my journey from PhD research to real-world DeFi applications — and my predictions for what’s next.
I am also deeply grateful to my colleagues at Matter Labs and the University of Zurich for their invaluable support and encouragement throughout this journey.
Ups, Downs, and Highlights
The path of a PhD is never a straight line. It’s filled with ups and downs, breakthroughs, and challenges. Here are some of the key moments from my 2024 journey that stood out.
Global Conferences
One of the most rewarding aspects of my research was the opportunity to travel and connect with leading experts in the blockchain space. These are some of my standout moments:
🗽 NYC (SBC): The energy at SBC was contagious. It wasn’t just researchers in attendance — there were also startup founders, VCs, and builders, all working incredibly hard to make their dreams a reality. The collaborative atmosphere was something I hadn’t seen at this scale in Europe.
I had a great opportunity to present my research on L2 MEV during the workshop organized by Flashbots
🇸🇬 Singapore: I had the chance to meet policymakers from across the globe at the Insights Forum, all eager to learn more about crypto and blockchain. It was surprising and motivating to see their willingness to embrace change and innovation in the space.
🇨🇭 Zurich: Earlier in the year, I presented my research on Layer-2 solutions to the Swiss National Bank (SNB) during their research seminar, and was one of discussant at the annual conference on the topic of private settlement in blockchain.
My research on DeFi further led to further involvement in Project Guardian, contributing to the application of DeFi in tokenized fixed-income assets and cross-bank repo.
🇬🇧 🇬🇷 🇵🇹 London, Athens, Lisbon, Malaga: The list of conferences and workshops I attended and presented at is extensive. These events provided invaluable networking opportunities and chances to share insights on MEV, rollups, ZK and DeFi use cases.
Academic and Industry Contributions
In addition to attending conferences, I was fortunate to make contributions to both academia and industry in terms of DeFi, Liquid Staking, Layer-2 and MEV:
ETHCC, DevCon, WEF and CfC: I presented at ETHCC (Cross-Rollup MEV: Non-Atomic Arbitrage Across L2 Blockchains) and participated in panels at the World Economic Forum in Davos. I also spoke at the academic track at CfC in St. Moritz (Cross-border Exchange of CBDCs using Layer-2 Blockchain).
🏆 Best Paper Award: I co-authored a paper that won the Best Paper Award at the MARBLE Workshop in Malaga, which was a proud moment for our research team (Liquid Staking in Automated Market Makers)
NYC Workshops: I ended the year in New York, attending workshops on MEV, rollup testing, and holding business meetings to set the stage for an exciting 2025.
My Big 2024 Milestones
1. Presenting Layer-2 Research to the Swiss National Bank (SNB) and Involvement in Project Guardian
One of the most significant moments of my 2024 journey was presenting my research on Layer-2 solutions to the Swiss National Bank (SNB) and later contribution to Project Guardian, a key initiative exploring the application of DeFi in tokenized fixed-income assets.
2. Winning the Best Paper Award at the Marvel Workshop
Co-authoring a research paper and receiving the Best Paper Award at the Marvel Workshop in Malaga was a proud moment. The paper focused on mitigating LVR and impermanent loss for liquid staking tokens and it shows how research can contribute to solving real-world DeFi challenges.
3. Speaking at Global Conferences and Connecting with Policymakers
From SBC NYC to Singapore, ETHCC, WEF Davos, and more, 2024 was packed with opportunities to present my research, meet policymakers, and engage with industry leaders. One highlight was the SBC conference in NYC, which helped me connect with best players in the ecosystem.
Predictions for 2025
What’s next for DeFi and blockchain in 2025? Here are my top predictions:
1. Banks Will Embrace DeFi
Traditional financial institutions will increasingly integrate DeFi, particularly through tokenized assets such as stablecoins, tokenized deposits and bonds. This shift will lead to significant capital inflows into blockchain ecosystems, unlocking new opportunities for innovation.
Uniswap v4 with hooks makes DEX more efficient (lower LVR, impermanent loss). Transaction ordering in rollup sequencers will redistribute MEV back to users of DeFi on L2s.
2. Enterprise Layer-2 Solutions Will Gain Traction
We will see more enterprise Layer-2 solutions being deployed on Ethereum. Companies will recognize the benefits of scalability, security, and cost-efficiency offered by rollups. Ethereum rollups, in particular, will continue to dominate and drive real-world adoption.
3. ZK Technology Will Mature
Zero-knowledge (ZK) technology will advance significantly, unlocking new applications in privacy, confidentiality and faster transaction finality on Layer-2s (ZK rollups). This will be crucial for both financial institutions and enterprises looking for secure, private transactions on public consensus.
Upcoming Talks and Events
Looking ahead, I’m excited to continue sharing my research and insights at key events:
Davos (January): I’ll be giving a talk on crypto geopolitical implications during the World Economic Forum week.
EthereumZurich (30-31 January): I'll present how DeFi and TradFi meet each other in lending protocols, disrupting traditional cross-bank repo and fixed-income business [link].
Institutional DeFi Night (January 30th): Join us at the University of Zurich for a deep dive into institutional DeFi [link].
Let’s Make 2025 the Year of Institutional DeFi!
The past year has shown that blockchain technology is no longer a niche topic reserved for tech enthusiasts. It is becoming a key part of financial infrastructure, with institutions and policy-makers worldwide recognizing its potential. The developments in Layer-2 solutions, tokenized assets, and ZK technology are setting the stage for the next phase of blockchain adoption.
If you’re a financial institution interested in exploring Layer-2 solutions or experimenting with DeFi use cases, let’s connect. The future of finance is decentralized, and there’s a lot to build together.
Conclusion
The transition from PhD research to real-world DeFi applications has been an exciting journey. As we move into 2025, I’m optimistic about the continued growth and adoption of blockchain technology, particularly in traditional finance. By embracing innovation and collaboration, we can unlock new opportunities and shape the future of finance.
Here’s to an innovative 2025!