Crypto Academy Week 7 Homework Post for (gbenga) - Dlease: A Defi Project
The Steemit crypto academy community is developing day by day. We are on the 7th week courses. This week, Professor @gbenga touched upon a very important issue. He asked us to prepare a homework about Defi and a Defi project / protocol.
I'm going to prepare a homework about Defi. I will talk about "Dlease" as a project. It is a project that enables users to earn passive income by renting Steempower.
What is DEFI
Last year, after June and July, there was a term that everyone was talking about: DEFI. It was a project that would revolutionize finance. Protocols that enable all banking services that come to our mind to be realized without the need for a decentralized third person are called Defi.
Defi serves in unlimited areas. These are: lending - borrowing, insurance transactions, barter, fund. Think about it, you carry out all financial transactions via the internet and a computer without the need for any intermediary. As such, the commission you will pay to the broker disappears.
You are in control of your funds and you do not pay a commission because there is no intermediary. You may have to pay a small amount of commission for the wallet just for using it.
Defi protocols run on blockchains with smart contract capability. As you can see in the image above, many DEFI protocols work especially on blockchains such as Ethereum, Tron, Eos, BSC.
There is a DEFI project that also works on the steem blockchain. The name of this project: Dlease
Actually I wanted to promote "Compound". I thought it was unnecessary to introduce another project / protocol when there was a Defi project running on the Steem blockchain.
What is Dlease?
Steem is a project running on blockchain. It is an application that allows you to earn passive income by renting your steempowers to someone else. You can also increase the amount of Steem power you have by hiring a delegation. You have to pay some Steem for this.
How Dlease Works
We log in via the web address https://steem.dlease.io/.
We click on the "login" in the top right. We connect via Steem Login. It is important that we connect with Steem Login because we are in full control here. The most striking aspect of Defi projects is that the control is in the user.
You need to login with username and activation key. If you log in with the posting key, you cannot establish a connection.
In the Dashboard section, there is information about your account. It also shows the transactions you have made. I used this project before, but now I do not have an active process. To get passive income or hire a delegation, we need to click on the "Market" option at the top.
ACHIEVE PASSIVE INCOME
As seen in the picture, there are those who want to hire a delegation. There are many details such as how much SP they want, how many weeks they want, how much daily and total payments will be made, the rate of return. If you have as many SP as the user wants in your account, you can start the passive income earning process by clicking the "delegate" option.
HIRING A DELEGATION
Let's say you want to hire delegations, not earn passive income. For this, all you have to do is click on the "Request a Lease" option.
You indicate which user will pay the delegation. Someone else can pay on your behalf to hire delegations.
Then you can make preferences to the area in the picture according to your own wishes. You specify how many SP you want, how many weeks you want and how much steem you will pay.
Finally, you make the payment via Steem Login or Steem Keychain. After that, if there is a user matching your preferences, the delegation rental process begins. If the delegation rental process does not start for a while, you can cancel your preferences and apply with new options (pay more steem)
Conclusion
With decentralized finance applications, our life seems to be much easier. Because there is no intermediary. We have full control of our funds. There is no such thing as not being able to get your earnings. It is almost impossible to be defrauded. In this homework I wrote an article about Dlease, a Defi project. I hope it will be useful to those who read my article.
Note: The pictures that I used in my homework and whose source I have not specified were taken from the web address https://steem.dlease.io/.
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.
I have checked out Dlease severally and I usually believed it was built for the steem blockchain alone until I saw that google searches promotes more of Hive.dlease.
From your post, you didn't state if Dlease is a multichain Defi or a single chain Defi?
Rating 7
I didn't want to mention the other chain. It would not be ethical to mention the other chain here. Do you think I'm wrong?
You have made points but you could simply say it is multi-chained so people would be sure it is.
Thanks for being a part of this week's class
Thank you professor @gbenga for checking my homework. I forgot to mention that. I should have pointed out, sorry. I think it is rude not to thank the professor who checked the assignment.
Not specifying the other chain shouldn't have impacted you to score. If you examine the pictures carefully, you will see the logo of the other chain. An attentive person can notice this. It is unethical to talk about the other chain in the steem blockchain.
Thanks for everything. For your courses. For checking homework. Have a nice day.
It is a class and an assignment. You didn't have to write about the other chain, you only needed to specify that "Dlease also exist on other chains"
The score is impacted by so many things including replies to comment and I am glad that you were swift to reply to comments.
Thanks for being a part of the week's class
Twitter sharing
https://twitter.com/Steemtht/status/1374268871008522242