Hi steemians!!
I hope that all of us will always be protected by the almighty and always be given health.
This time I want to do a homewrok given by professor @yohan2on which the homework is to briefly explain each of the following DeFi apps:

• Maker
• Compound
• Synthetix
• bZx
• Uniswap

I will explain about DeFi (Decentralized Finance) first

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Decentralized Finance (DeFi)

For people who are in the world of cryptocurrency based on blockchain technology, the term Decentralized Finance (DeFi) is a familiar thing. DeFi itself is an open and transparent financial system based on blockchain technology.

DeFi itself was created to enable all people in the world to be touched by the financial services that are already available. In other words, it will be easier for people to access existing financial services.

This DeFi service allows people to connect with financial and banking institutions around the world to get financial services. In principle, the use of DeFi is the same as when people access financial services through financial institutions or conventional banking.

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1. MAKER

Maker (MKR) is token governance of MakerDAO and Maker Protocol. Both are decentralized organizations and platform software based on the Ethereum blockchain. This DeFi token forms the basis of the first stablecoin technology on the Ethereum crypto asset platform, called DAI.

MKR was created in 2015 and fully launched in December 2017. MKR is a project created to manage DAI, a community-managed crypto asset with a price set as much as possible in US dollars. So the value of 1 Dai is equivalent to 1 US dollar.

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The uniqueness of MKR

This token involves the holder directly participating in the DAI regulatory process. Each Maker token holder has the right to vote on a number of changes to be made by Maker Protocol.

Their voting power depends on the size of MKR shares owned. The involvement of users in managing MKR is what drives the increasing demand for MKR tokens so that they can affect their value.

Some of the MKR user rights that can be obtained from the protocol are:

1. Added a new collateral asset type to the protocol
2. Allows users to submit new crypto assets to print more DAI
3. Change the risk parameters for existing asset types.
4. Change the DAI saving rate

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2. COMPOUND

Compound is an autonomous DeFi interest rate protocol that has been developed for developers to open various decentralized finance applications. This Ethereum-based platform allows users to earn automatically adjusted interest or loan assets with underlying crypto collateral.

Compound was originally launched in September 2018 and upgraded to version 2 in May 2019. This protocol has been formally audited and verified and currently supports ETH, DAI, SAI, BAT, and ZRX.

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3. SYNTHETIX

Synthetix is a protocol based on Ethereum, Synthetix assets are financial instruments in the form of ERC-20 smart contracts known as "Synths" and Synths can provide other assets to you that do not require you to hold these assets. You can trade Synths - which range from cryptocurrencies, stocks and real-world assets like gold, silver, etc.

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How Does Synthetix Work?

Since Synth is published on the Ethereum platform, you can take it on other DeFi platforms like Curve and Uniswap to provide liquidity and earn interest. Synthetics is important to protect prices in markets that experience liquidity.

For example, if you think that the value of your assets will increase in the future, but you are hesitant to take the risks that may arise with the possibility of the asset failing to increase in value, you can choose an options contract. An option contract is an agreement between two parties a buyer and a seller, the option is to buy or sell an asset in the future at a predetermined price. This way even if the asset's value fails to increase, you can create a contract that allows you to sell your asset for a certain price up to a certain date.

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4. bZx

bZx was created and founded by Tom Bean and Kyle Kistner. They got the idea to create this bZx in 2017 and released a white paper in February 2018. In December of the same year, they had raised nearly $ 8 million in ICO. In June 2019 and they launched Fulcrum which is the front end of the trade. Then in October 2019 they launched Torque which is the front end of the loan.

Like other DeFi platforms built on the Ethereum platform, bZx automates the performance of financial processes. The biggest difference between bZx and others in the field is that bZx has three usable tokens: iTokens, pTokens, and BZRX tokens. Each of these tokens plays their respective important roles in the way bZx operates.

But after I examined various articles, it turned out that there was news that bZx had been hacked several times by hackers, this made investors from this bZx project, because its security could no longer be trusted.

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5. UNISWAP

Uniswap is a protocol that allows a buyer and seller to exchange their ERC20 tokens without having to use other intermediaries or record them in the order book. Uniswap is a protocol created by Hayden Adams, this protocol operates without charging platform fees or intermediary fees other than charging gas fees on the Ethereum network.

In addition, if most other exchanges determine the exchange rate based on the sellers and buyers in the market, the exchange rates of the tokens on this platform are based on a mathematical algorithm equation that will automatically calculate the balance between the two tokens and compare it with the actual demand of this exchange pair. .

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Advantages and Disadvantages of Uniswap

The development of Uniswap in the crypto world can give a new color. This is because Uniswap makes new innovations related to the use of the crypto currency itself. Not only that, Uniswap also has other advantages that can be said to be new to be applied in the crypto industry.

The advantage in question is that aspects such as new tokens can directly access liquidity by adding their tokens to the exchange with the Uniswap V2 router contract, not only that trading is low cost compared to DEX or centralized exchanges, not until liquidity providers get profit by just entering their funds to the liquidity pool, and of course the most basic of these platforms are decentralized.

On the other hand, of course every thing has its drawbacks. Uniswap also has disadvantages such as the possibility of an attack on the flash loan / swap feature, it still relies on arbitrage trading to eliminate market imbalances.

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That is my explanation of some DeFi DApps, hopefully it will be useful for all my friends and also for myself. Sorry if there are errors in writing, and you can tell me by writing a comment in the comments column.

I'll see you in the next post!

CC:

1. @yohan2on
2. @steemitblog
3. @steemcurator01
4. @steemcurator02