Topic 4: Introduction to Decentralized Finance (DeFi) – A new Fintech Revolution (Part 1) @yohan2on

eulalia1202 (62)in SteemitCryptoAcademy • 3 years ago

Maker

It is a decentralized financial platform for blockchains, it mainly requires having a safeguard to protect itself in the flow of these new markets. It is essential and important to understand that Maker is a DAO or Decentralized Autonomous Organization. This which means, nothing more and nothing less than this whole process is managed by an algorithmic structure programmed by smart contracts, that is why we call it a decentralized organization, since it is a smart contract platform that works with Ethereum and supports and stabilizes the value of the Dai for debt contracts and loans with users.

This operation of this medium is quite complicated and is not quickly understood. It is important to understand that Maker is a platform created for the maintenance, issuance, operation and stabilization of the Dai in the market.

Advantage:
It is decentralized, which is responsible for maintaining the stability of the DAI and does not depend on external entities such as reserve banks or individuals.
He has a huge expansion plan for this project.
Present a good complex proposal for long-term progress.
It is extremely solid and transparent.

Disadvantages:
Deducing how it works is a bit complex, and only those who know about the subject can get to know how it works.
Depends on Ethereum,
For a cryptocurrency to emerge on the market, it must be very attractive to the user and very easy to understand.

Compound

Source

It is a platform based on ethereum specialist in loan and the best thing is decentralized which means that it does not depend on a financial entity or company that controls it, this allows users to earn interest in cryptocurrencies, depositing them as a form of loan in one of the many groups on the platform. When you deposit tokens in a group, you receive Tokens in exchange for that operation.

Synthetix

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It is characterized by being an Ethereum-based protocol for the issuance of assets. Similar to legacy finance, these assets are financial instruments in the form of smart contracts known as "synthesizers" that seek and provide the returns of another asset without it being present.
It is a protocol that works with the Ethereum blockchain as already mentioned above, it also accepts raw materials such as gold and silver, cryptocurrencies, inverse cryptocurrencies, cryptocurrency indices and fiat currencies. The platform provides exposure to non-blockchain-based assets, creating a stronger financial market.

bZx

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It is a decentralized platform based on Ethereum, for issuance of DeFi loans and operations with margin that differs from the competition by a system of currencies based on contracts.
It offers two types of money, iTokens and pTokens, through its DeFi Fulcrum and Torque platform.
BZx's Fulcrum trading interface allows users to trade and / or lend crypto assets through loans.
This sets them apart from other protocols, which often offer very large token rewards that are the actual value of the fees paid, this adds more value to the protocol in the long run.

Uniswap

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It is a decentralized project that works with Ethereum. In a short time it has solidified itself as one of the most powerful protocols in the DeFi world, offering loans or exchanges between a wide variety of tokens such as Ethereum, Maker, DAI, USD Coin, BAT, etc., decentralized margin and trading services. negotiation with large profit margins,
Uniswap destroys the traditional structure of exchanges in the usual markets, which manage an order book, called "order book", it also details a new way of operating where the value of its assets is established algorithmically, which completely breaks with current brokerage industry.