Flash Talk by Abad Mian - Head of Product, Agoric

My name is Abad. I'm head of product at Agoric and I'm here today to talk about stable coin liquidity fragmentation and how crosschain orchestration including YX can fix it. So let's quickly start by talking about where we are. There's more than $300 billion in stable coins circulating today and $120 billion locked in DeFi TVL. Stable coins are the primary unit of account in DeFi and dominate transaction flows across chains and protocols.

They're the largest non-native asset class in DeFi. But the workflow for DeFi hasn't evolved. What does that mean? Well, slow DeFi workflows lead to slowmoving capital, including for stable coins. And in today's world, that means users have to bridge, swap, route, borrow, and redeploy assets manually.

Moving funds crosschain is hard. And doing it crosschain plus cross protocol is infuriating. There's dozens of steps, dozens of signatures that you need to sign across multiple chains and multiple protocols depending on the size of your portfolio. It's hard, stressful, and just downright annoying. The complexity of operating a DeFi pro uh portfolio today often scales faster than the size of the opportunity.

The result of all of this is that liquidity ends up siloed by chains and protocols due the due to the difficulty of moving it from one place to another. Each chain creates its own pockets of stable coin liquidity. You end up with yield markets that are uneven, and you end up with lots of capital that is just stuck. Users hesitate to move it from one place to another because the pain and risk of doing so feels like it outweighs the benefits. But what if capital could move efficiently?

What if you could execute a complex action involving your entire DeFi portfolio with just one signature rather than 10? And what if your intent was routed across chains and protocols seamlessly? Imagine doing this with execution that is still transparent and user control. You will end up with capital that reallocates based on intent, not just manual work and reconciliation. That's why I'm proud to announce the beta release of YAX, the solution that our team has been working on that unlocks DeFi and allows capital to deploy and move effortlessly.

YAX is an intelligent cross-chain cross-protocol D5 command center that moves us from a world of execution to orchestration. Today we live in the world of execution which is just about sending a transaction. But YAX coordinates the entire DeFi life cycle seamlessly. Funding, routing, swapping, bridging, borrowing, moving between positions, rebalancing, and withdrawing all coordinated. With YAX, you can build complex portfolios of cross-chain, cross-protocol DeFi positions that you can control with a single signature.

And YAX is built for smart DeFi investors in mind. We know how important control is. And YAX is self-custodial. We also help you maximize your yield with an intelligent AI co-pilot that can help you discover new opportunities to earn more yield. And down the line, you'll have the opportunity to hand control of parts of your portfolio with guardrails, of course, to your co-pilot if you choose.

How does YAX work? Well, it works by creating a a series of smart accounts across ecosystems that give you unified control of your portfolio. Cross-chain orchestration means that you can deposit, reallocate, rebalance, and withdraw funds as a coordinated flow. And this is all powered by single signature execution. The complexity of DeFi collapses into one single action that coordinates across all the chains and portfolio proto protocols that you're using.

But we know that a picture is worth a thousand words. So we'd like to give you a quick glimpse of YAX. Um let's see. Sorry, the video is not working. Is there any way to get it working up on Oh, we go back a slide.

Sorry about that. Is video going to be able to work? No. All right. Well, I was really excited to show you the video today.

If we have a moment, we'll we'll get a minute to do that in a second. Um, but just to give you an idea of what the video was going to show, um, with YAX, you're able to create portfolios that include any number of positions in one place. So, um, we have this working live in production. We just demoed it the other day. Um, we've currently got protocols like a and compound.

So if you wanted to create a protocol where or a portfolio where you had a position in a on arbitum, a position in a on base, a position in compound on avalanche, you could allocate all of those positions into one portfolio and deploy and move assets from as many into as many as you want with just one single click. So it makes everything really easy. And we're currently in the middle of um you know getting uh several other protocols into the product. So, uh, we've got Beefy, Hyperlquid, Morpho, and several others that we're looking to to include. So, you know, YAX will really be the one-stop shop for your entire portfolio where you could control your portfolio across chains.

And we believe that YAX unlocks DeFi. With YAX, liquidity becomes truly mobile. Single Let me go to the next slide. With YAX, uh, liquidity becomes truly mobile. Single signature execution across chains and protocols makes everything easy.

Yield opportunities all of a sudden become actionable. There's no hesit more hesitation that you have about moving things and moving a position from one to another just because of how hard it's going to be. With one click, you've just got it and YMAX is there doing it all for you. And we think protocols also benefit because you get better routing of capital to the chains and to the vaults where it's most most productive. Um, and underneath it all, power users keep control, shedding operational burden while earning more yield.

So, in closing, we started by talking about how stable coins gave DeFi a common currency. And we know from Tradfi and DeFi that fundamentally all capital chases yield. But DeFi workflows are broken, fragmenting liquidity and making it harder for DeFi users to optimize their yield. The solution is orchestration, which YAX finally delivers for DeFi. And our vision is that YAX becomes the universal orchestration layer that coordinates capital across every chain and protocol with intelligence, transparency, and a single signature.

Um, as I mentioned, we recently entered a limited beta and we're adding more users from our weight list every week. If you'd like to get priority access off the wait list, please scan the QR code and sign up. And I believe we have a table set up somewhere in the back if you want to get a t-shirt or a mate cup if you're down for signing up. So, thank you. I'm so sorry that we couldn't do the video.

I was really excited to show that off. But enjoy the rest of Dev Connect and please check out YAX. Thanks.