How do fragmentation, AI and incentives affect liquidity in crypto? Notes from our Partner @Lingersj, during her panel at @Cointelegraph CONNECT with @ShiliangTang @ataaffe @_MinTeo @raycotarrida. Fragmentation has always existed in crypto, and RWAs are no different. Tokenized versions of the same underlying aren’t fungible across issuers. Liquidity has improved over the years, but there’s still a long way to go. AI has shortened research, analysis and backtesting cycles. It could act like an “agentic AMM” for individuals and help reduce fragmentation, but it’s still too early to let AI run this on its own. The flip side is security risks due to AI. Teams have to treat security as a continuous process, not a one-and-done. Strong SOPs across both code and human points of failure are essential. Incentives are a good way to bootstrap liquidity early, but not a long-term solution. Good fundamentals and transparency with the community are key.