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Hi steemains, I'm inviting you to review my homework for task4 by@youhan2on. I took his detailed and well explained lecture in which he described about,

• What is Decentralized Finance?
• The Foundation of DeFi
• An overview on how DeFi operates
• The Benefits of Decentralized Finance.

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HOME WORK TASK 4:

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Briefly explain each of the following DeFiapps

• Maker
• Compound
• Synthetix
• bZx
• Uniswap

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ANSWER TO THE HOME WORK TASK 4:

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maker defi APP:

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Maker is a lending platform responsible for the creation of DAI(Cryptocurrency), the first decentralized stablecoin, built on Ethereum. ... “As DAI produced, then it could be used in the same way as any other cryptocurrency: it can be transferred freely to others, can be used for any modes payments of goods and services, or can be hold as savings in long term too.

It is an organization based on advanced technology, work for savings, borrowing and a stable cryptocurrency on the Ethereum blockchain. By investing some ETH in MakerDAO, a users can make a certain amount of DAI. The more amount of ETH locked up, the more DAI can be created.

With Maker, it is not possible to take part as a private use as a Miner in the network and thus earn Maker.

One of the most powerful valuable coins in all of Cryptocurrency is "Maker coin"(MKR) Maker coin is part of a system that creates crypto's most rock-solid stability coin, which is always locked at $1 in value.

995,239 MKR coins or token are publicly available and reached to max. supply of 1,005,577 MKR coins. For trading in Maker many top exchanges deal such as Binance, Huobi Global, HBTC, BiKi and OKEx.

_On Maker (MKR) tokens the price boom over 40% was because of millions stress test performed on the blockchain and also the upgrading of the MKR tokens and the Oasis market has relaunched which helps to match Ethereum and Dai trades.

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compound :

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Compound is a company which allows people to earn their money on the Cryptocurrency that they save. The Compound app project is a part of Ethereum and DeFi. Their Users can borrow Cryptocurrency from Compound by putting up security deposit above a threshold which is defined by the project compound.

It's one of the safest and most accepted, developed blockchain projects. The hundreds of millions of dollars worth of Cryptocurrency is locked in its smart contracts of compound app projects and along with it's one of the principal drivers of the billion dollar DeFi market._

Compound interest occurs when interest gets added to the principal amount invested or borrowed, then compound interest produced and then the interest rate applies to the new larger principal. Compounding can work to your advantage or against in both way, it favours as your investments and savings grow by the passage of time—or against you , if you're paying off debt.

If someone wantsto borrow crypto from the Compound protocol, they need to first deposit another type of crypto as collateral or as security.
The maximum amount crypto that someone can borrow is limited by the amount of assets that they deposit and termed as collateral factors.

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SYNTHETIX

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Synthetix is an agreement that on the Ethereum blockchain enables the issuance of synthetic assets. It supports the synthetic input like gold and silver, synthetic cryptocurrencies, synthetic fiat currencies, synthetic inverse crypto and synthetic crypto indexes.

Mining of Synthetix Network Token on Android system is so simple . All you just install a "Miner Gate" app from Google play store . create an account, and you are ready to mine Synthetix Network Token on your android.

Users receive rewards from two sources: one is trading fees from the Synethetix Exchange and second is SNX weekly via inflation. These are made to drive the behavior in the Synthetix network and reward users for staking.

You can earn profits on investment by staking on Synthetix. By purchasing and holding the Synthetix network token, SNX you stake it and this powers the Synthetix ecosystem. Across of the asset is being traded, each transaction of assets trade comes with a fee of 0.30%.

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bZx

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It is an Ethereum-based DeFi lending protocol and their users can borrow, lend, and margin trade without relying on third parties. The bZx Protocol is just one of countless DeFi applications out there.

Ai cryptocurrency analyst declared for BZRX that there will be a negative trend in the future and the BZRX are not a good for investment. As this virtual currency has a negative outlook so they recommend looking for other projects instead of this.

bZx has opened up a new distribution model for its native, it's the platform offers traders and lenders the capability to give loan and trade tokens “without venturing their assets onto a centralized exchange.

To but Bitcoin Zero (BZX) on the cryptocurrency exchanges, you will should already have Bitcoin (BTC) or Ethereum (ETH) for trade . And you can easily buy any cryptocurrency using your Credit Card or even Bank Account.

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Uniswap

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It is a decentralized crypto exchange which make easier automated transactions on Ethereum block chain, between cryptocurrency tokens through the use of smart contracts.it launched in 2019 and its home country is US

According to DigitalCoinPrice, its price may reach $7.22 per token at the end of 2021, so this exchange is a profitable investment.

You can lose money on Uniswap as the percentage change between the assets increases, the change may be up or down doesn't matter. Any price ratio change between when you add the assets or when you withdraw results in a temporary loss:

the ethereum network is overcrowded and in order to keep security they don't want more transactions and want to try to decrease the workload that is increasing their transactions price and provide services to those transactions that are agree to pay that price.

Uniswap Mining can be done through CoinList, their users are capable to earn the new UNI governance token by investing funds to Uniswap liquidity pools.

That's all from me.

Mentioning respected @steemcurator01, @steemcurator02, @steemitbelog and @yohan2on for their support