Homework task: Briefly explain each of the following DeFi apps
Maker
Compound
Synthetix
bZx
Uniswap

DeFi Dapps

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Decentralized Finance

DeFi or decentralized finance is a movement that AIMS at making a new financial system that that is open to everyone and does not required trusting intermediaries like banks to achieve that defy relies heavily on cryptocurrency blockchain and smart contracts smart contracts are the main building blocks on defy if you don't know what smart contracts are or you want to refresh your knowledge So read this post carefully.

Decentralized means there is no intermediaries in between. It is based on a smart contract in a way, friends, first I will try to give you an example. I will take the exam of the bank that how you work in the bank, the bank gives you a lot of facilities like if you deposit money in the bank, then the bank gives you the interest to invest and withdraw money to the bank.

The second feature of the bank is that you can take a loan as if you take a loan from the bank, the bank charges you some interest. Debit card and credit card provide you Many such services are provided by the bank to you. i want to explain you in the same way. Defi is the same way that you go to the platform which is smart Is made on contract. Nowadays what is the maximum that defi are being made on maximum Ethereum The tron ​​is set to become defi on in the future.

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one of the first project MakerDao

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Projects that started that decentralized finance movement was maker dao maker Dao founded in 2015 allows user to lock in collateral such it and generate died stable coin that by using certain incentives follows the price of us dollar Dai can be also used for saving makers Oasis platform this recreates one of the pillars of the financial system lending and borrowing in fact. Defi is trying to create the whole new financial ecosystem in a permissionless and open way lending and borrowing is only one part of this ecosystem. Some of this ecosystem some of the other important parts are stable coins decentralized exchanges derivatives margin trading and insurance let's talk about each of the categories one by one.

Landing And borrowing

Besides maker Dao that we just mentioned there are few other important defi project in this category the main one is compound

COMPOUND

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Compound at the time of creating this post is the beggest defi project in the lending category with around 630 million dollars worth of assets locked in the protocol compound is an algorithmic autonomus interest rate protocol that allows users to supply assets like eater but zero X or tether and start making interest supplied assets can also act as collateral for borrowing other assets another popular defi project in this category is other with clever use of smart contracts and certain incentives we can create a stable coin that is pegged to the u.s. dollar without having to store dollers in the real World we already mentioned maker Dao that essentially allows the users to lock in their collateral and generate dao is a good example an algorithmic stable coin. Besides dai there are multiple other algorithmic stabel coins like USDT USDC or PACs the main problem with them is the fact that they are centralized are centralized as there is company behind them that is responsible for holding the equivalent of the value of the stable coins in US Dollar or other assets nevertheless this table coins gained a lot of popularity and are extensively used in defi applications compound or other decentralized exchanges.

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Uniswap

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Uniswap airdrop on 17 September 2020 sending a wave of euphoria throughout the crypto world, Uniswap gave away 400 UNI tokens, amounting to a cool $1,200 at that time, so anyone who had interacted with the platform before September 2020. Uniswap managed to lock in more than $2 billion dollars, making it the largest player in DeFi. When it comes to total value locked in, and this number is only growing. So what is Uniswap?

Uniswap was created as a trust less, 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. Its commitment to giving users permissionless access to financial services with security and immutable, and without the fear of discrimination or counterparty risk. Staying true to the ideals of decentralisation set out by Ethereum since it's built on the Ethereum blockchain, using smart contracts, Uniswap replaces traditional centralized market tool like exchange listings and limit-order books with automated and permissionless liquidity pools executed purely by algorithms.

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Synthetix

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Synthetix is a decentralized finance platform on the the Ethereum with several functions. First, it is a Decentralized Exchange or DEX. The benefit of DEX is that users don't actually have to open an account with any central body. As everything is executed with smart contracts, all users have to do is to connect to the exchange with a compatible Ethereum wallet like Metamask and trade away.

Secondly, synthetix is also a synthetic asset issuer. So this mean users can create their own Synthetic assets call synths. Synths are blockchain assets that are pegged to real-world assets like fiat currencies, cryptocurrencies and commodities. Their price is tracked in real-time using chainlimk oracle data feeds, allowing investors to buy sell and trade on these assets like the real thing, only without a central body. All synths minted on the platforms are denoted by an 's'. For example - SBTC, sUSD, sTCLA, sAAPL, and sAu (s-Gold).

There are also indexes like sCEX, which give investors exposure to a range of centralized exchange tokens like Binance Coin and kicoin shares. But while Synths like sAAPL give investors exposure to these real-world assets, it won't give Synth investors the dividends that actual stockholders get. Now it gets more interesting, users can also choose to bet the other way, and short prices with synthetic assets know as Inverse Synths. So Invers Synths like iBTC for example, rise in price when the actual price of BTC falls. Other Inverse Synths available on the Synthetix Exchange are iETH and iBNB.

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bZx

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bZx protocol is a flexible and efficient d4 service built on Ethereum it offers lending services as well as merging and leverage trading. it was created by Tom bean and Kyle kistner in August 2017. Since than the protocol has survived a number of hakers attacks conducted dozens of audits became sufficiently safer and the bZx team is currently collaborating with currently collaboration with channeling order maker and so on.

A brief history

• February 2018 – bZx whitepaper is released

• December 2018 – bZx raises $7.8 million in their Initial Coin Offering of BZRX tokens.

• June 2019 – Fulcrum, the trading front-end for the bZx protocol, is launched.

• October 2019 – Torque, the lending front-end for the bZx protocol, is launched.^Source