Crypto Academy Week 7 - Homework Post for @Gbenga
Hello every one welcome to another homework task post for @gbenga one crypto professor, this is week 7 now which is one month and 3 weeks and i have learnt a lot by participating.
This week our professor @gbenga wrote about Defi and Yield Farming if you want to read our professor article click this link any way let's dive into this week task.
In the homework i am to write about a Decentralized Finance ecosystem as well as a Project/Protocol in the Ecosystem so read and learn as I write about it starting with what is Decentralized Finance ecosystem.
What Is Decentralized Finance Ecosystem
The Decentralized Finance blockchain consist of many different actors and some of which simply don't exist in common finance while a large majority of participants include lenders which are ready to loan others our tokens while others looking for access to the assets and exchanges that can act as a platfotm for lenders and borrowers.
They are list of other important solutions this include p2p market places, tokenization of physical assets such as real estate, predicting Markets, staking and collateral alternative savings with interest turning the two important use cases mechanisms and even insurance, one of the most famous in DEFI today is lending and borrowing.
Lenders are people who have certain amount of assets and that assets is currently not performing well so instead of holding it and it is not doing anything they prefer to lend it out and be gaining interest and some platforms give more income to those providing it.
Borrowers are seeking benefits that come with temporary taking control of lenders resources even if for a price for 1 by borrowing an asset users can be potentially sure that assets for profit on exchanges don't support margin trading and this platforms can offer quick access for crypto that the borrowers don't have in mind to hold but just want to use the borrowed token to participate like others in any given task.
There are even loans known as flash loans available in financial tool that enables traders to request for a loan and use the money borrowed to invest the loan atomically in a single transaction, decentralized exchanges has become more popular for their automated swap capabilities and because it is the only middle men is a swap contract which does not cheat or delay the exchange process, Funds remain in the users fool custody minimizing the security issues that has caused centralized exchanges to 10s million of dollars in cryptocurrency due to hacks or mismanagement.
Liquidity pools
The liquidity pools are needed to facilitate different exchange peers, if you have a token and will like to exchange it for another you can add liquidity for that token so that traders can swap and trade for the token, this open the gate of the process in getting listed on the traditional stock exchange both defi exchanges and the pool has experience the biggest development ever since their introduction.
Protocol in the Ecosystem.
The insane success of the binance smart chain has helped increased the exchange token to the top ten of the cryptocurrency market and has attracted some new project top projects to the chain already, the latest project to expand binance smart chain is leading defi protocol Easyfi, here how this latetest move by easyfi protocol will benefit crypto companies, their project and the community itself even though Eth remains the most strong block chain layer in the crypto community today, like any new technology there are obstacles and limitations that developers are rushing to address.
While ethereum provides scalability improvements, Dapps, utility token and als stable coins has begin to progress to othet chains such as polygon or the impressive binance smart chain, the newest project to expand to binance block chain easyfi protocol and a dollar easy token.
What does Easyfi do?
Easyfi network is the universal second-layer lending protocol currently shaking up the Defi space, the integration was done to create new opportunities for the defi sector and enabled faster more successful transactions will benefit the ecosystem and also investors at the same time.
$Easy token will now be shown as an ERC20 token as well as a Bep-20 on three different blockchains: ethereum, polygon and also binance smart chain.
Smart chain integration in addition to all of the speed and scalability benefits easyfi and $Easy will now have access to the binance community for greater reach and engagement and be among the list of dogital assets growing in binance.
Binance smart chain asset will be integrated into Easyfi as collateral, further enhancing lending markets, new money markets will also be introduced such as tokenized stocks, metals and other commodities and much more.
The Binance smart chain is a no brainer for Easyfi Defi goal.
Conclusion
Defi is obviously the future of finance because it provides solutions for different problems.
Best regards
Cc: @steemcurator01
Cc: @steemcurator02
Thanks for being a part of my class and for participating in this week's assignment. I hope you learned from the class as the aim of the school is to teach and allow people to learn alongside.
Review
Your post topic and sub-topics aren't intriguing, the post is yours and should have interesting topic that will suit your content and not just random topics like what you used. Also, there was no sub-topic on easyfi when you were indeed talking about easyfi.
Another thing to take note of is proper referencing and copy-pasting. You should quote and reference properly whatever content that isn't yours. In this post, I found certain similar contents with other articles but you did not reference them. eg;
Your content
Similar/changed content
Source: https://www.newsbtc.com/news/company/leading-defi-protocol-easyfi-expands-to-binance-smart-chain/
What do you mean it is not intriguing even after doing all my researches and as for the topics that is what you said we should do.
I mean you are the professor so i have edited my post to your liking so please review my post because this took like 5 hours to put together
Hello sir...
First, let me make something clear here. The fact that you spent several hours writing a content doesn't mean you have done the right thing. It is how well and not how far.
About the topic and subtopics, Your topic should explain what you are writing.
You didn't edit this post sir, you still have spun contents in it, more so you should reference contents that are not yours, not doing that is regarded as plagiarism.
Finally, being rude isn't the way out. I do not have anything to gain if i withhold your rating, I am only doing my job.
Thanks..
Sorry if i wrote in this manner it's just that it took a long time putting this researches together and i know you are a good steemit professor and there is a lot of work for you to do so i apologize
Please sir, you can change the necessary things so I could update the review.
Thanks again
@gbenga
The post has been corrected by the student, Changes have been made and the post can be considered for curation now.
Rating 5.5
Thank you
@gbenga my post is yet to be verified
It will be verified soon
ok thanks
Please @gbenga i have change it.