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Hello everyone,
I'm very delighted to participate in this week lecture from our esteemed crypto-professor @yohan2on where he tutored us on the meaning of Decentralized finance and its importances. And He equally gave us task to accomplished to show how we understand this lesson. I will write on what I understand from his lecture and then do justice with the task:

Homework task: Briefly explain each of the following DeFi Dapps
Maker
Compound
Synthetix
bZx
Uniswap

MAKER

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The Maker Protocol, one of the largest decentralized applications(dapps)on
the Ethereum blockchain, was the first decentralized finance(DeFi) in the world it was created in 2014 by Dai Foundation which is based in Denmark.

According to white paper, Users are allowed to generate Dai which is now know as Sai for trade. It is highly acceptable widely. It is a very stable and free to use currency. It is highly decentralized currency that does not discriminate that's why it is referred as " unbiased" currency. It is modern and popular and several individual or business have realizes the advantages of this digital money.

The Maker Protocol,also known as the Multi-Collateral Dai(MCD)system, which is built on the Ethereum blockchain technology because of high volality of Bitcoin. In this protocol, users can
generate Dai by leveraging collateral assets approved by Maker Governance.

However, It is designed based on the reliability of US Dollar. Because of this, it is very strongest world currency that is very reliable and not usually affected by hyperinflation.

Moreover, Dai is a decentralized finance, and offers economic freedom to anyone worldwide. It can be generate, access, and use easily.

ACCESSIBILITY OF DAi.

However, Dai is highly access for digital trade, like other cryptocurrencies, it can be generate, store, and can be used as means for trade. Also it can be sent to others, used as payments for goods and services, and even held as savings through a feature of the Maker
Protocol called the​ Dai Savings Rate​ (DSR).

However, Dai can be generated from these two main methods:

• By depositing collateral assets into Maker Vaults within the Maker Protocol.
• Buying it from brokers or exchanges.
• By receiving it as a means of payment.

Every Dai in circulation are under checked as it is directly backed by excess collateral which means that the value of the collateral is higher than the value of the Dai debt, and all Dai transactions are publicly showed with the aid of the Ethereum blockchain ecosystem.

Compound

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Compound is a decentralized, blockchain-based protocol that allows you to lend and borrow crypto — and have a say in its governance with its native COMP token.Source

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This DeFi dapps designed on Ethereum technology ecosystem, this is a decentralized blockchain that enables smart contracts upon which other decentralized blockchain-based applications (dApps) with native cryptocurrencies can be built. Compound is one such protocol, mainly based on the financial transaction and services of borrowing and lending cryptocurrencies including: Dai (DAI), Ether (ETH), USD Coin (USDC), Ox (ZRX), Tether (USDT), Wrapped BTC (WBTC), Basic Attention Token (BAT), Augur (REP), and Sai (SAI) etc. Now anyone with crypto can lend and borrow crypto immediately, without having to spend the time, effort, and cost of dealing with a traditional financial third parties like banks.

Synthetix

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Synthetix is a decentralised synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties. This mechanism solves the liquidity and slippage issues experienced by DEX’s. Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. SNX holders are incentivised to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network. It is the right to participate in the network and capture fees generated from Synth exchanges, from which the value of the SNX token is derived. Trading on Synthetix.Exchange does not require the trader to hold SNX.Source

However, Synthetix Exchange provides many advantages over centralised exchanges and order book as it is based on "P2C" (peer-to-contract) or "P2P" (Peer to Peer) trading, which is most reliable and transparent means of trading. These two methods are decentralized means which makes the control of the trade in the hands of the clients or people without third party's supervision. Financial assets are assigned an exchange rate through price feeds are purely system-based, and can be converted using the Synthetix Exchange dApp. Hence, helps to provides infinite liquidity up to the total amount of collateral in the system, zero slippage, and permissionless on-chain trading.

bZx

This is one of the most powerful open finance protocol and applications that empower lenders, borrowers, and traders with the most flexible decentralized finance protocol designed on Ethereum technology.

bZx Ecosystem consist and supports these several wallets.

• DexWallet
• AlphaWallet
• Eidoo
• MEET.ONE Wallet .

Why Is Decentralized dAPP like bZx Trading is Better?

• Minimized Risk: Since the investor is in the control of his/her keys, there is zero worries in all his financial trade and asset unlike what is obtainable in centralized finance where dishonesty and theft can occurs instantly.
• Passive Income: Centralized financial institutions especially banks makes huge money from the asset in hold from their several customers which they can't even shared to those clients but unlike bZx, Clients can make money with the assets you already hold in your wallet without giving up control of them.
• Lower Fees: In Bzx, and other Dapps, lending and trading is cheaper because of lower transaction fees unlike banks where investore pay higher interest rates to compensate lenders for the risk of the exchange getting hacked.

UNISWAP

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The Uniswap protocol empowers developers, liquidity providers and traders to participate in a financial marketplace that is open and accessible to all.Source.

This uniswap is a growing decentralized protocol ecosystem that is highly secure and offers a wonderful trading experiences with very low trading fees.

CONCLUSION

Decentralized finance is a new innovation and modern development in the financial institution. It is different from traditional financial or old method of keeping or trading financial assets where all asset are kept in care of financial experts where they handle the major financial transaction for the client or the people that actually owned those assets. But, Decentralized finance did not involve the three parties or financial experts as they called themselves like the banks, brokerages, stock exchanges, etc. Every clients handles their financial asset solely without even by monitored. This new innovation is based and designed on the strength from blockchain Technology. With Blockchain technology, everything is on the quest to be decentralized and everyone control their finance and other resources on their own.

Thanks to crypto-professor @yohan2on and worth to be mention:
@steemcurator01, @steemcurator02 and @steemitblog.

All pictures are copyright-free and their sources stated appropriately. Unless otherwise comes from my screenshots of infinix 4 pro