Assalamu AlaikumMy Dear Steem Friends,This is @kawsar from Bangladesh.

---

What is DeFi or Decentralized Finance:

DeFi or Decentralized Finance Generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications built on Ethereum. In simpler terms, it’s financial software built on the blockchain that can be pieced together like Money Legos.

---

Today I will discuss in with you the DeFi or Decentralized Finance apps or DeFi Apps Homewoek task:4 Posted by professor @yohan2on . A Brief Explanation of 5 Most Current Decentralized Finance apps or DeFi apps.

• Maker
• Compound
• Synthetix
• bZx
• Uniswap

---

---

---

What is Maker (MKR)

MakerDAO is one of the first and most well-known projects focusing on decentralised finance. Maker MKR is stablecoin whose value is stabilize to USD. This particular platform is based on the blockchain technology and allows international payments along with P2P transfers. Dai is a stable coin which is developed and linked to Maker MKR. MakerDAO is built on the Ethereum blockchain and the crypto loans that it facilitates are handled through Ethereum smart contracts. When a user wants to borrow Dai, they deposit ETH or other collateral asset into the Maker Protocol to be held in a Maker Vault and receive a loan in newly minted Dai relative to their collateral. The loaned Dai can be paid back at any time in return for the collateral or alternatively,

Benefits of Maker

• Maker has a two-token policy. It includes both MKR and DAI.
• MKR and DAI Tokens are based on ERC20.
• Maker is known to make use of CDP smart contracts and MKR token to maintain the stability of the DAI token at $1 US dollar.

What is Compound

Compound, the leading lending protocol on Ethereum. its founded by the economic Robert Leschener in 2017. Compound Finance allows users to deposit and borrow cryptocurrencies. The protocol is used for borrowing and lending, and you can easily view the total supply and total borrowed of each market pool.Its mission is to allow all crypto holders to easily earn interest on their holdings (as you typically would with fiat currency), instead of letting their assets sit in wallets and exchanges without earning any interest.

Benefits of Compound

• Once you have all of your transactions in a standard format, crypto tax software automatically calculates your capital gain or loss using the required accounting methods and standards recommended by your local tax authority.

---

What is Synthetix

Synthetix is a decentralized platform on Ethereum for the creation of Synths: (In abbreviation it is known as SNX) . The platform enables users to issue and trade synthetic assets — digital assets that represent other real assets like stocks, fiat currencies, cryptocurrencies, commodities. It also has a staking mechanism that incentivizes users to provide liquidity and maintain the platform.Yet anyone could gain exposure to Tesla stocks, high premium bonds, real estate, and just about anything. This can be done simply by depositing SNX tokens into the platform.

What is bZx

bZx is a decentralized money market protocol based on ethereum to lend your assets and earn interest with Basic Attention Token, Kyber Network, Chainlink, Ethereum, Augur, sUSD, USD Coin, Bitcoin, Dai, and Sai. its journey around 2018 The smart contracts of the protocol enable developers to built efficient and rent-free applications with integrated lending, borrowing, escrow, leverage and margin calls. Currently there are two applications powered by the bZx protocol.

What is Uniswap

Uniswap is an open-source automated liquidity protocol on Ethereum. Uniswap allows for easy trading and listing of ERC20 tokens. Built around the values of decentralization, censorship-resistance, security, and permissionless utility, Uniswap has become Ethereum’s most popular automated market maker (AMM) exchange since Uniswap’s V1 launch in November 2018. The Uniswap protocol powers a decentralized marketplace of trading pairs, with each of its pairs composed of reserves of two tokens on an equivalent, 1:1 basis. All pairs are managed by separate Uniswap contracts.

---

---

❤꧁♥ THANKS EVERYONE ♥꧂❤@kawsar