Crypto Academy Week 4 Homework Post for (yohan2on) - Decentralized Finance

Hello Steemit Crypto Academy Community,

With the new week, we switched to new courses.I selected the first course post of this week from professor @yohan2on .I read the course article and started my research.

Homework task: Briefly explain each of the following DeFi Dapps

P

Maker
Compound
Synthetix
bZx
Uniswap

I want to share with you what I know about DEFI before going on homework.

What is Decentralized Finance?

In our previous course articles, we learned what decentralized applications are, the content of decentralized applications and in which sectors they operate.

We know that decentralized applications emerge in accordance with the spirit of the blockchain and operate in an unlimited area. Decentralized finance is one of these areas. It stands for DEFI.
It is a financial system built on blockchain networks that are not connected to any center.
DEFI's main purpose is to eliminate brokerage houses. These brokerage houses are generally stock exchanges and banks. Decentralized finance continues to increase its strength against traditional financial institutions.

Now let's move on to our homework.

Maker: Maker is a cryptocurrency. Its abbreviation is MKR. It is the token of the MakerDAO platform. Maker is a smart contract authoring platform running on the Ethereum network. It is a system that is not centralized, is not dependent on any authority, and its decisions are determined by the software or by participant votes.

Maker has other tasks besides smart contracts. Maker is also the force behind the fixed value cryptocurrency DAI. MKR is generated or destroyed by the system to keep the DAI value constant at $ 1. Thus, a balance of supply against demand is established and an equality between DAI and $ 1 is achieved.

Since Maker can write smart contracts, we can also say that it is a DApp platform.

Web: https://makerdao.com/en/

Compound: The founder of the Compound is Robert Leshner. Compound is an ERC-20 based decentralized finance project. The purpose of the Compund platform is to unite borrowers, lenders on the same platform. There is a great system on this platform. The rate of interest changes according to the supply and demand balance. In other words, the interest rate to be taken from the borrowers and defined to the creditors varies according to the supply-demand balance. After determining the supply and demand balance, a new block is created and the interest rate is updated.

Web: https://compound.finance/

Synthetix: It is an ERC-20 based cryptocurrency. Its abbreviation is SNX. It is a decentralized finance project. The aim of SNX is to take the opportunities in the hands of traditional financial systems and to present it within its own structure. The opportunities it wants to offer are as follows; To enable trading of stocks, national currencies, precious metals and precious metals with crypto currencies at their real values.

Web: https://synthetix.io/

bZx: It is a DEFI project running on the Ethereum blockchain. It came to my mind while researching the courses for the third week. Almost every field has decentralized application. I was wondering why there is no decentralized margin trading. That's what I learned, thanks to the current lesson. A certain commission is given to exchanges that are central to trading margin. Or borrowing from the stock market, making a contract with the stock market. The aim of the bZx project is to provide these margin transactions through a decentralized structure. It is also a decentralized finance project that seeks to provide loans and lending opportunities without a brokerage house.

The motto of bZx is:
Minimiez risk: People who give or take a loan have private keys. That way, you have complete control. You will not experience security problems you will experience in central exchanges here.
Passive Income: You earn more passive income than credits that central exchanges say.
Lower Fees:In margin transactions, you pay a high amount of commission to central exchanges. Commission fees are more economical in decentralized margin transactions.

Web: https://bzx.network/

UniSwap
It is a decentralized exchange system that works on the Ethereum blockchain. Token In is short for UNI.It was established in 2018. With UniSwap, Ethereum and ERC-20 based tokens are exchanged between each other, with the support provided by the users. For example, you can exchange BAT for DOT tokens. We need a wallet to access the decentralized exchange. With MetaMask you can easily interact with UniSwap decentralized application.

Web:https://uniswap.org/

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