At Delphi Consulting, we’ve seen what I believe are the first signs of a very interesting pivot start to form. In the last couple of months, we’ve had a few clients bring up the idea of taking their token to market with a DEX-first approach. I believe this is not an anomaly, but rather a strong indication of how the next 1-3 years are going to shape up.

The role of CEXs in a token’s lifecycle simple. The token is a product, alongside the protocol/platform. CEXs have a strong