Homework Task 4: Introduction to Decentralized finance (DeFi) - A new Fintech Revolution (Part 1) | by @yohan2on
Hello after doing research of two days I've got this article ready will I hope it will help you guys I know it's a bit long but now I can't delete anything from it I just saw there that it's bit long after finishing it so next time I will try to make a small definition in small explanation but I thought that everybody is explaining too short and I should try to explain it in a little bit detail friend has right I have a little bit issues with a few tokens that I don't have much information about them like I don't have much information about them So I spent two days on this and I hope that you guys will learn something from this thank you so much now let's get into it
Maker
what is maker maker or mkr is a governance utility in recapitalization token created by maker dao its primary purpose is to underpin maker dao's stable coin the dai token and enable governance for the dai credit system the holders of mkr become stakeholders and therefore decision makers in the broader maker ecosystem distinct from fiat collateralized stable coins that are pegged to a currency like the us dollar maker dow uses maker to balance dai as prices fluctuate to accomplish this maker tokens are created and destroyed in response to dai price fluctuations
Compound
what is compound is a decentralized finance or defi protocol it is built on a system of accessible smart contracts built on the ethereum blockchain compound allows lenders to provide loans and borrowers to take them out by locking their respective crypto assets in the protocol its native token comp enables users to earn interest transfer and trade their money comp tokens are created each time a user deposits their crypto assets into compounds protocol those users automatically receive the comp equivalent of the deposited currency as collateral when making a anyone can create comp using an ethereum wallet and any of the crypto assets that compound accepts
Synthetix
well iam writing this it might be little long but its important for you to understand what it readily is that's why i am trying to give you basics and the whole story from the start now what is the synthetics network built on ethereum the synthetics network is a token trading platform established in 2017 the network has plans to bring the same sort of commodities currencies stock trading and other assets ruled by traditional financial centers in hong kong wall street and london into the decentralized economic world of cryptocurrencies users of synthetics are able to use erc20 tokens to bet on stocks crypto assets currencies precious metals and other financial assets the price of real-world assets
Uniswap
this one is unique so pay focus about this one and you will learn many new things now Uniswap was created as a trustless, decentralized financial exchange or DEX, which allows anyone to take part in the financial transactions of Ethereum-based tokens, without a central body or middle man. It’s committed to giving users permissionless access to financial services with security and immutability, and without the fear of discrimination or counterparty risk. Staying true to the ideals of decentralization set out by Ethereum Since it’s built on the Ethereum blockchain, using smart contracts, Uniswap replaces traditional centralized market tools like exchange listings and limit-order books with automated and permissionless liquidity pools
bZx
decentralized margin Commerce and is the designed into any exchange the b0x network builds on the rear of 0xs advancements by introducing the power to conduct margin commerce and margin lending on a decentralized exchange margin commerce is that the appliance of borrowing from a broker within the sort of short loans to buy stock margin accounts modify a lot of Commerce selections popular a lot of advanced traders however they're out there with a lot of risks within the current cryptocurrency landscape margin commerce is simply very doable on centralized exchanges due to the shortage of liquidity available on decentralized platforms
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Hi @akashhassan
Thanks for attending my week 4 crypto course and for doing the homework task.
I have discovered that you got some content about Uniswap from the following site;
https://techplanet.today/post/what-is-uniswap
You also directly copied and pasted content about synthetix from the following site
https://getblockcard.com/currencies/havven
"and you did not reference any of that"
why did you directly repeat what I wrote in my article without referencing it?
You are supposed to do your own research, explain creatively in your own understanding.
Plagiarism is Not Tolerated on Steemit
Hi @akashhassan
Thanks for attending my 4th-week crypto course and for your effort in doing the given homework task.
Corrections
Kindly breakdown your article into smaller readable paragraphs to make it easier for me to read.
hey sir thanks for reviewing y post i have done as you said i changed the paragraphs in to small parts now its easily readable
will you please reiew it again thanks