[SilasX]

Wait, what? The entire purpose of my previous comment was to clarify the role of liquidity pools, part of something in another reply that you asked about, and you are asking about wholly unrelated things I have no expertise about. Can you at least comment on whether that (IMHO honest and thorough) attempt to explain LPs addressed anything you asked about?

>Even though these are "fees" or "loans", the purpose is speculation. The whole web of connections in the flow of the money is rooted by people speculating to make money.

LPs don't have "fees", they just have regular fees, no need for scare quotes.

>These aren't loans that are made to acquire some intrinsic value, like buying a house, investing into growing a business and so on. People use this liquidity or take crypto loans to try to make more money elsewhere in crypto.

I don't have an special expertise on what the crypto loans on Gemini/Celsius are for, beyond what their literature says. However, everything you've said there applies just as well to (secured) margin loans that brokerages make. Do you have the same objections to those?