Crypto Academy Week 4 Homework Post for [@yohan2on] DeFi
Homework task: Briefly explain each of the following DeFi apps
What is Decentralized Finance - DeFi?
It is a decentralized financial system without intermediaries that include banks, exchange houses, etc. The DeFi system is based on blockchain technology making faster and safer transactions with a completely auditable and free record.
Maker
It is a protocol that allows you to create DAI this is a token whose value is referenced to 1 Dollar. Maker is an impressive solution designed to allow this DAI coin to maintain the value of 1 Dollar without the need for any mechanism to release them. This cryptocurrency seems to work similar to how banks work with fractional reserve. Apart from not fulfilling one of the main promises that Bitcoin put on the table and that is not having a counterparty problem, that is, needing a third party to trust when we save our savings.
Porque su precio se mantiene en 1 Dólar?
Why its price remains at 1 Dollar?
The Maker process to offer a loan is similar to a normal loan from a bank if we imagine that we ask for a loan at the bank to buy a "Car" or our Guarantee is equivalent to 80% of the value of the mortgage, for example in maker If we request an ether loan valued at 100,000 Euros and upon leaving them to Maker, he will offer us to be able to borrow up to 100,000 Euros. The moment you cancel the loan, the more you want it, the maker will return our Ethereums to us.
All this process to create DAIs will be carried out through Vaults or Vaults, these would be those mortgages that they request in a traditional bank so we can say that a vault is the central component of Maker that allows the creation of DAIs and of course to be able to issue DAIs you need to create a Vault.
Compound
Características esenciales de compound
El depósito se puede realizar en cualquier criptmoneda desde luego que sea soportada por Compound.
Es importante tomar en cuenta a la hora de solicitar un crédito es la tasa de interés anual.
Las tasa de intereses son actualizada cada vez que un bloque es agregado a la blockchain de Ethereum,
Las tasas de intereses variará dependiendo de la oferta y demanda que tenga el mercado donde solicitamos el préstamo.
Una de las inovaciones que trae compound es que te puedes convertir en un prestamista si eres un ahorrador de criptomonedas y esto de ta la oportunidad de generar ingresos, todos los que inciamos en esta plataforma necesitamos realizar una serie de depósitos para ofrecer liquidez en cualquier mercado que se encuentre disponible dentro de ella.
Según el tiempo que duremos dentro de esta plataforma, el sistema nos pagará intereses que variarán dependiendo de la oferta y demanda que estos tengan. todo esto dependiendo de la liquidez del mercado, otro efecto que ocurre en la plataforma de compoun es que donde pocas personas solicitan préstamos, los intereses bajarán como incentivo a los usuarios que soliciten préstamos. En el caso contrario, si un mercado es muy demandado, los intereses aumentarán para motivar a los prestamistas a ofrecer liquidez al mercado.
¿Cuánto ganaré por mi depósito?
Esta pregunta es muy importante dado que el depósito puede ser retirado en cualquier momento, el interés a pagar se calcula dependiendo de la cantidad de bloques que estuvo dentro de Compound. pero si sacas tu retiro antes del año
compound calculará la tasa de interés actual, dividiendo la cantidad de bloques que nuestro depósito estuvo dentro de la plataforma y lo dividirá entre el promedio anual de bloques que recibe la blockchain de ETH algo facil de entender pero complicado para personas que no estan entendidos en el tema.
Las diferentes maneras de generar ingresos además de ganar dividendos a través de los intereses que nuestros depósitos generan,puede ser utilizado como una herramienta que nos permita generar ganancia a través de la compra y venta de criptoactivos entre Compound y casas de cambio externas
Conclucion
Compount se comporta como un préstamo normal realizado en un banco tradicional con sus importantes mejoras , comenzando con que es un sistema libre sin regulaciones , seguro , es rápido y transparente, que nos da opciones de abandonar el préstamo realizado en cualquier momento sin que nadie te regule tu tiempo. a parte que nos permite convertirnos en prestamistas si tenemos una gran cantidad de criptoacctivos acumulados y así generar mas ganancias.
This is another platform executed on the ethereum blockchain that was designed to make loans in exchanges and is designed with a complex algorithm to be fast and secure, with Compound you can request loans without intermediaries as it happened in traditional banks, you can also do it in any Cryptocurrency that Compound handles, and the biggest difference to a normal loan is that they can be paid at any time you want, you can make loans, which will generate profits through interest without any type of restriction as well as making exchanges between crypto assets. Its loan system gives you the option to request loans for the amount of cryptocurrencies you want, as long as a relationship of 1.5x is maintained on the amount to be requested and the amount deposited.
This relationship was created with the purpose of overcoming the effects of volatility that characterizes the crypto market in order to avoid a possible loss of funds in exaggerated increases or decreases in price, because there is a guarantee between the amount deposited and the total. that we receive on credit.
Essential Compound Features
The deposit can be made in any cryptocurrency of course that is supported by Compound.
It is important to take into account when applying for a loan is the annual interest rate.
Interest rates are updated every time a block is added to the Ethereum blockchain,
Interest rates will vary depending on the supply and demand of the market where we request the loan.
One of the innovations that compound brings is that you can become a lender if you are a cryptocurrency saver and this gives the opportunity to generate income, all of us who start on this platform need to make a series of deposits to offer liquidity in any market that is available within it.
Depending on how long we last within this platform, the system will pay us interest that will vary depending on the supply and demand they have. All this depending on the liquidity of the market, another effect that occurs in the compoun platform is that where few people apply for loans, the interest will go down as an incentive to users who apply for loans. Otherwise, if a market is in high demand, interest will increase to motivate lenders to offer liquidity to the market.
How much will I earn for my deposit?
This question is very important since the deposit can be withdrawn at any time, the interest to be paid is calculated depending on the number of blocks that were within the Compound. but if you take out your retirement before the year
compound will calculate the current interest rate, dividing the number of blocks that our deposit was within the platform and it will divide it by the annual average of blocks that the ETH blockchain receives, something easy to understand but complicated for people who are not knowledgeable in it. topic.
The different ways to generate income in addition to earning dividends through the interest that our deposits generate, can be used as a tool that allows us to generate income through the purchase and sale of crypto assets between Compound and external exchange houses
#Conclusion
Compount behaves like a normal loan made in a traditional bank with its important improvements, starting with the fact that it is a free system without regulations, safe, it is fast and transparent, which gives us options to abandon the loan made at any time without anyone. regulate your time. Besides, it allows us to become lenders if we have a large amount of accumulated crypto assets and thus generate more profits.
Synthetix
Mayor logro de Synthetix
Es que está básicamente configurada para funcionar a travez de su plataforma que permite a los usuarios mantener posiciones largas en seguridad, predecir un valor de mercado más alto para un activo en los próximos días o semanas, o comprar rápidamente y vender para obtener una pequeña ganancia proporciona muchos incentivos para los usuarios, como obtener ganancias y obsequios, esta es la razón principal por la que una gran parte de los tokens SNX están sellados para evitar la gran creación de sintetizadores.
Synthetix is a network protocol that uses tokens to and with this we can negotiate securities such as stocks, bonds and obligations. All Synthetix assets are known as "Synths" and they gently evaluate all current prices of securities on the market and in turn put them at the equivalent value of an ERC20 token on an Ethereum blockchain. However, buying Synths is not as valuable as having real assets. While users can get a Synthetix TUSD token for the same market value of a "real" TUSD token, it does not, however, give the same voting power to its holders, as real token holders get more power in this. stage.
Synthetix allows many operations, all of which allow bartering and compensation and are performed on a token-based system. Its mechanism is similar to that of MakerDAO, in Synthetix it mainly becomes inactive to develop USD (synthetic USD). The sUSD and the SNX function as synonyms in a debt guarantee system.
What separates Synthetix from Maker DAO is that SNX works as collateral for any asset exchange. For a Synthetix system to work, you need to be able to get real-time information and global news such as Apple's share price or the current price at which the British pound is being sold.
Synthetix's Greatest Achievement
It is basically configured to work through its platform that allows users to maintain long positions in security, predict a higher market value for an asset in the coming days or weeks, or buy quickly and sell to obtain a small profit. provides a lot of incentives for users such as making profit and giveaways, this is the main reason why a large chunk of SNX tokens are sealed to avoid big synth creation.
bZx
It is a decentralized loan protocol, this allows the creation of loans that provide borrowers, lenders, make decentralized transactions easier and more flexible, and it is cheap since its commissions are low and commercial transactions have greater liquidity, all this using the implementation of smart contracts being an easy-to-use application, although lately it has been the basis of many attacks leaving its security among said.
Uniswap
It is a Decentralized Finance project (DeFi), which is executed on the Ethereum blockchain, this platform allows to exchange tokens and cryptocurrencies in a free and decentralized way without any entity that regulates it since it itself has a self-regulation protocol and its functions They are similar in function to the heavyweights of the industry, but with the exception that there is no company, or human, that ensures that these exchanges are fulfilled, since everything operates automatically on the Ethereum blockchain thanks to smart contracts. It is worth saying that Uniswap is one of the best projects of many in the new world of decentralized finance.
Hi @nathan27
Thanks for attending the 4th-week Crypto course and for your effort in doing the homework task
Feedback
This is excellent work. You had the content about all the highlighted DeFi protocols and you explained each one of them in a much detailed way in accordance to your understanding. I like the way you incorporated in some great examples of the current financial system inorder to help your readers to clearly understand how the listed DeFi projects operate.
Homework task completed
10
Gracias profesor. Pronto realizo la tarea de la semana 5..