Topic 4: Introduction to Decentralized Finance @yohan2on(DeFi) – A new Fintech Revolution (Part 1) to @gema777

in SteemitCryptoAcademy3 years ago (edited)

Homework task: Briefly explain each of the following DeFi apps

Maker
Compound
Synthetix
bZx
Uniswap


maker1.jpg
Photo edited with befunky


Maker

Maker is a cryptoactive platform that seeks to maintain stable and minimize volatility using Dai that have a value of 1USD, this makes it stable and is not so volatile at the moment the maker has 2.1 billion dollars in the market cap works under the ERC20 chain it is estimated that maker is very reliable and safe has an upward trend.

comp-2.png
Photo edited with befunky


Compound

Compound this platform is characterized by being a loan platform works with ERC20 on this platform you can request 1.5x loans, this platform is centralized but uses blockchains Eth I understand that the developers are working to decentralize this platform on this platform use intermediaries to ask for a loan or you can also lend to get some benefit you can withdraw whenever you want.

Note:

if you have cryptocurrencies and you want to grow your capital, you can use this platform since it has many opportunities to generate profits, the use of the platform is very simple and easy to use, basically, compound is a loan platform there that pay a lot of attention in the% of loans on the platform.


syn.jpg
Photo edited with befunky


Synthetix

Synthetix is ​​a platform that is in charge of working with centralized assets such as gold, silver, carbon, etc. Creating tokens through decentralized Dapp these tokens have the same centralized benefits and even the same value but without having it physically. Synthetix is ​​widely used worldwide to create and facilitate the market for these centralized assets and make them decentralized.

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Photo edited with befunky


bZx

bZx is a decentralized indefinite term loan platform is one of the most powerful crypto platforms in the world, founded with a Defi margin of indefinite term loans with fixed interest defects the risks are minimal you have control of your keys no It is a centralized platform, passive income works in the following way, you earn money with the assets that you already have in your wallet, keeping total control of them, the fees are lower than the centralized platforms, the ERC20 network uses Eth protocols for short positions, so both makes it faster and more efficient.

uniw.jpg
Photo edited with befunky


Uniswap

Uniswap is a decentralized platform works under ERC20 it serves as a DEX within the eth ecosystem and serves as an automatic liquidex protocol to use it, any low cost web3 currency is needed in high speed trading in the world it is used by millions of users for its speed because it is completely decentralized This platform is completely autonomous and follows a schedule already stipulated.

This is my fourth task. I briefly explained how the teacher dictated it. I hope it will be very helpful. The understanding is very easy to understand and analyze. Thank you for reading.
thanks to the teacher and curators:


Cc
@yohan2on
@steemcurator01
@steemcurator02
♥Thank you♥

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Hi @gema777

Thanks for attending this week's Crypto course and for your effort in doing the homework task.

Feedback/guidelines/suggestions/corrections
You just tried the homework task. More effort was needed in your research study about the different highlighted DeFi protocols on the Ethereum Blockchain. The explanations were very basic. I found trouble in understanding what you were trying to explain.

Learn to Use Grammarly, it will help you out in the identification and correcting any grammatical errors in your articles.

Homework task
2

Thank you for the next one, I will do my best, taking into account everything that you recommended to me.

What happens is that I speak Spanish, I'm from Venezuela, can I do the homework in my language so as not to have those dramatic mistakes?

Yes, please do the homework in Spanish. I can always translate it using the Google translator.

hi, I will do it next time, thank you very much for your comment.

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