The Steemit Crypto Academy Week 7/ for @gbenga Introduction to Defi and Yield Farming for @gema777
The DEFI
It is a decentralized autonomous system is similar to blockchain for its speed and does not need to be controlled, it does not need intermediaries to perform transactions this platform includes the following services, investments, stock market business, loans etc. stable currencies work mainly with DEFI.
DEFI's objective
is to develop more transparency in the traditional decentralized finance in reality DEFI is an idea that changed the world of cryptocurrencies with the arrival of DEFI is like the beginning of the end of large centralized corporations as it meets all the standards security speed and balance in the ecosystem,
I see that the Defi is the way to link to the decentralized digital future, as it is a train for the financial economy does not need banks or large paperwork to access services which is an excellent initiative for any investor or user who requires it.
Source
I will talk a little about a DEFI PAXOS (PAX) project.
PAXOS is a stable coin that works with Ethereum blockchain actually Paxos (PAX) is the first cryptocurrency regulated and secured by the New York department of financial services, with a value of 1 (PAX) = 1 (USD),
Currently there are no limits to create Paxos tokens they are created when you deposit dollars and go into escrow and when PAX is exchanged for cash the tokens are instantly destroyed.
PAXOS as a fiduciary company and a custodian for users' investments provides more security for all investors' funds safeguarding their assets from vitality as well as being subjected to regular audits to ensure transparency in PAXOS.
How to change token in an exchange
PAXOS can be traded very easily on any online exchange, I like binance, it's very easy just select your spot wallet then in search choose PAX and immediately you can trade PAX.
Conclusion
I am very happy to learn more and more about cryptocurrencies I will continue studying and doing more courses you can see my profile the other courses I hope they can help you I want to thank the team @steemit the teacher @gbenga excellent teacher and everyone who read my research of the DEFI thank you very much until next time friends.
Thank you for your visit
Cc
@gbenga
@steemcurator01
@steemcurator02
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.
Review
I expected more detailed information about Paxos. As a novice, I wouldn't be getting the necessary things I wanted to learn about Paxos.
Rating 4