Good day crypto lovers & friends ! It's another week contest and we are ever grateful @cryptoacademy community and @steemitblog for their awesome hosts in order to let anyone earn and learn from Cryptocurrency, with the help of Educative Professor's like @gbenga. He's lectures was great and I will answer the assignments given to prove my learning abilities from his class :

Write on a Decentralized Finance Ecosystem as well as a Project/Protocol in the Ecosystem.

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What Is Decentralized Finance

Decentralized Finance (DeFi) can be said to be a monetary system that makes use of public blockchain and this gives no room for centralized authority. DeFi is an umbrella term for a variety of applications and projects in the public blockchain space geared toward disrupting the traditional finance world. DeFi uses smart contracts which are automated imposed agreements which need no broker or any third party in transactions; though could be accessed by anyone.

DeFi requires no access rights when lending or borrowing or while trading of financial tools. Do you know that majority of the DeFi applications created today were created using the Ethereum network though recently, a lot of choices on public networks are been created and they have much speed, low cost in transactions and security.

A list of good things when using DeFi apps is that it gives you : accessibility, high liquidity, it's 100% decentralized, no third parties required, saves time in transactions, 100% control for your savings, reduces cryptojacking activities and many more.

Compound

Talking about decentralized protocol, Compound is a decentralized DApp built on the Ethereum blockchain that enables you to either borrow or lend and some other activities that are being carried out. It's specialties has made crypto-users in the world to accept and use it since it was created in the year 2017.

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Compound prioritizes about permitting borrowers to collect loans while lenders to gives loans by every user locking up there assets into the protocol issued. When you must have locked your crypto assets, then you're eligible to borrow and a good thing about it is that you are never mandated for a credit assessment; which means any crypto-user with assests has the eligibility to borrow anytime though you could only borrow at the rate of your assests. And just like collecting a loan from the traditional banks, you have to pay up an interest when returning the money you collected.

Compound has so much benefits like :
• Compound enables steady crypto-users how to earn a passive income. Crypto-users can earn lending their cryptos which are not in use.
• Compound enables it's users to utilize BTC in DeFi environments.
• Compound has a quality security network through different means, and has been tested on some security audits with companies that have good track record like Open Zeppelin.

COMP being the governance token for the predecided quantity is shared to all lenders and as well the borrowers on the Compound protocol always. Iade a research and found out that COMP distributions occurs whenever Ethereum block is mined on each 15 seconds in a quantity directly proportional on the interest gotten by each asset. The governance of Compound by using COMP token tends to abolish a centralized, third party and most traditional banking methods.

Do you know that once a crypto-user is able to own about 1% sum of the COMP, supply could be subjected and vote on collections to change the protocol stated; because every COMP-token matches one vote.
Proposals are explained to be executable codes that submitted to a (3 days) voting time. Whereby the government tries to change protocol, it will have to take 2 days cause users or holders of such amount will be given a chance to close any open transactions before the effect takes place. And all these is because Compound is about a self-governance blockchain.

How To Use Compound Through The In-Built DApp On Trustwallet For Transactions
• Open your Trust Wallet

• Go to DApps

•Go to New DApps and search for Compound then click on it

• Click on any of the assests there...like Compound

• Choose to either borrow or lend

There are other things you could do as well

COMP token also permits it's holders to vote or still delegate their voting power on changes on Compound protocol

Currently, Compound-users are submitting their assets in different numbers for a large pool of market, whereby enabling other users to borrow and as well lenders then splits the interest that borrowers pay back to the pool. Do you know that when you supply assets, you're been given a ctoken from the compound exchange.
cTokens are ERC20 tokens which are for their underlying assets at any time.

Conclusion

The operations and independent nature of DeFi had really made it possible for people to rely more on cryptocurrenu unlike traditional banks that hold a centralized government and involvement of third party Thank you professor @gbenga.

Special regards;
Cc: @steemcurator01
Cc: @steemcurator02
Cc: @steemitblog
Cc: @gbenga