Steemit Crypto Academy | Introduction to Decentralized Finance (DeFi) – A new Fintech Revolution (Part 1) | Homework task 4 for @yohan2on

Hii friends !!

Today I'm going to make my Steemit Crypto Academy Homework task by professor @yohan2on Lesson 4 that Introduction to Decentralized Finance (DeFi) – A new Fintech Revolution (Part 1). Very good learning from the processor made me want to participate in making this homework task 4. The homework given is briefly explaining each of the following DeFi Dapps: Maker, Compound, Synthetix, bZx, Uniswap. After reading many sources, I will try to write with the ability that I have. I hope it will be good for myself and all of you.

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MAKER

Maker (MKR) is a token created by MakerDAO and MakerProtokol. The purpose of these tokens is to stabilize price fluctuations so it is called "stable coin". This token is published by a group of contributors consisting of an organization and an individual partner. This token involves direct shareholders and also has the right to vote on changes that occur in the regulatory process for DAI. Their voting rights depend on the size of the MKR shares owned. Users involvement in managing MKR is what makes MKR tokens much needed and purchased so that they can increase the value of these tokens.

COMPOUND

Compound is a project on the Ethereum network proposed by an economist named Robert Leshner. This platform allows users to earn benefits such as interest or loan assets that are automatically adjusted to the underlying crypto collateral. In that sense, lenders and borrowers are directly involved in the process that occurs where they will manage assets in the protocol. These assets can be retrieved when all transactions have been completed. Compound helps users of this financial service in facilitating the lending and borrowing process.

SYNTETIX

Synthetix (SNX) is a protocol based Ethereum that focuses on offering stocks, precious metals, currencies and other assets. Synthetix assets are financial instruments in the form of ERC-20 smart contracts known as "Synths". Synthetic assets or “Synths” copy and track real-world asset prices and carry them onto the Ethereum blockchain. Synths can provide other assets without having to own these assets beforehand. This is what makes users of this platform like it because they can make any transactions against what assets they want to get.

bZx

bZx is a DeFi product that provides a lending / borrowing trading platform. This token is a project that runs on the Ethereum blockchain. This token has a special thing that makes users get more benefits. The special thing is that we can do Margin Trading on this bZx. Because one of the goals of the bZx project is to provide these margin transactions via a decentralized structure. Users can borrow more than their previous capital. So that many people want to use this product as a prolonged investment in the form of lending and borrowing first.

UNISWAP

Uniswap is a decentralized application that plays a role in the Cryptocurrency exchange process. Crypto assets that can be exchanged are between Ethereum Coins (ETH) and several ERC-20 tokens. This application runs entirely on smart contracts, allowing you to trade popular tokens straight from your wallet. Uniswap uses an innovative mechanism called Automated Market Making to automatically verify trades near market prices. The concept of Uniswap is to balance the value of the tokens, and exchange them based on how many people want to buy or sell these tokens.

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Thank you for reading my blog, This is my writing skills that I can provide based on several sources that I have read, hope it will be useful for all of you.

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