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Hello friends,
Today I'm glad to discuss with you my homework task4, briefly on each of the following Defi apps; Maker, Compound, Synthetix, bZx and Uniswap.

Firstly let me use this opportunity in thanking professor @yohan2on for his Amazing lecture which has help me a lot. May you be blessed.

Now let's us take a brief look at what Defi is. DeFi is stand for “decentralized finance,” meaning is a term used to classify variety of financial applications in blockchain / cryptocurrency without the use of financial third parties.

Maker

The maker Defi apps, is also called MakerDAO which is a Decentralized credit platform, that is built on the Ethereum blockchain, that supports Dai, as a Stablecoin whose value is match to the value of USD.

The maker is free to use by anyone who want to open a vault, that is lock in collateral like BAT or ETH to able the user generate Dai as a debt against the collateral.

Maker has a nice feature that is known as Dai Savings Rate (DSR). It allow DAI holders to lock their DAI into Maker’s DSR contract and earn a higher interest rate in DAI, that is generated from stability fees.

Compound

Compound is known as a system of smart contracts that is openly accessible on the the Ethereum blockchain. It emphasis is on allowing borrowers to get loans and whereby lenders will be the ones to provide loans that is needed by borrower. This is done by the lender locking his/her crypto assets into the Defi protocol. Compound was invented by Robert Leshner, which also design it tokens known as Ctokens that is simply the ERC20 tokens deposited by users.

Synthetix

Synthetix Defi is a decentralized protocol that is built on Ethereum blockchain for issuance of synthetic assets. These synthetic has a collateral model that give users the opportunity to perform conversation between Synths directly with the smart contract, by avoid the use of third party. Synthetix users are allow to stake their tokens as they are paid proportion of whatever fees that is generated from the synthetix activity.

bZx

bZx is a smart contracts that is built on Ethereum for the purpose of allowing traders to lend and margin their trade without relying on third parties. Tom Bean and Kyle Kistner are the founder of bZx in August 2017.

Uniswap

Uniswap is one of the decentralized exchange protocol that is built on ethereum. Uniswap perform an automated transactions between ERC20 tokens with the use of smart contracts. It is built to allows traders to trade tokens without the support of third party, thereby giving a high level of decentralization. Uniswap was created in 2018 by Hayden Adams who was inspired after reading a post that was written by Vitalik Beuterin, the co-founder of Ethereum.

Homework Task4 given by; @yohan2on

Written by; @josepha