The Steemit Crypto Academy Week 7: Introduction to Defi and Yield Farming @anamaria24

in SteemitCryptoAcademy • 3 years ago



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The Defi are networks with open source applications with smart contracts with blockchain on the blockchain based on ethereum, in order to end centralized platforms, the defi seeks financial freedom and end dependence on a centralized financial institution, the defi wants to provide freedom for users of decentralized protocols to create openly secure protocols and these help to boost the global decentralized market.

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What is Uniswap.

Created in 2020, It is a decentralized blockchain exchange of the blockchain, as an exchange platform where you can change any ERC-20 token without the need for intermediaries, it is one of the most important DEX today since it does not use the order book, instead of this uses a reserve called "automatic market maker", this platform is very easy and fast to use without having to give information about other services,

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How to buy uniswap.

In the following images you can find a list of some platforms that you can buy uniswap and its payment method, remembering that you can buy it on any exchange platform based on ethereum, since it is an ERC-20 token.

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Advantages and disadvantages of Uniswap.


Advantage

* No withdrawal limits
* When making a transaction, the speed is usually instantaneous.
* the platform is very easy to use.
* the ecosystem is decentralized.

Disadvantages

* To use a good service, it is recommended to have some knowledge about it.
* Depends on the demand for tokens, ethereum fees increase.
* Anyone can edit tokens on the Exchange to make them pass as true.


Conclusion.

In the decentralized industry there is a lot of offer in exchange platforms and ecosystems that want to reach the highest point and be the most important of all, therefore uniswap is not the only system that offers these services but it is one of the systems most used by users. investors for its high quality and very safe to use in defi systems. I think defi systems are very good ecosystems that require more investment and more trust to work, but I am also sure that they will be the future of the world economy./div>


Thanks for the support
@gbenga
@steemitblog
@steemcurator01
@steemcurator02


#gbenga-week7 #yield-farming #defi #cryptoacademy #nigeria
3 years ago in SteemitCryptoAcademy by
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     3 years ago 

    Thanks for being a part of my class and for participating in this week's assignment. I hope you learned from the class as the aim of the school is to teach and allow people to learn alongside

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    The /div> shouldn't be showing in your post, do well to correct it, or if you are not familiar with styling on post, you can learn the markdown style.

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