Crypto Academy Week 4 - INTRODUCTION TO DECENTRALIZED FINANCE (DeFi) – A NEW FINTECH REVOLUTION (Part 1) - Homework for Professor @yohan2on

Hello Steemians….

On this occasion I will try to join a class made by professor @yohan2on who has taught us some knowledge in his latest class, namely Introduction to Decentralized Finance (DeFi) - A new Fintech Revolution (Part 1) and I will finish The homework is given explaining several DeFI applications: Maker, Compound, Synthetix, bZx, and Uniswap. Hope it can be useful.

• Maker

source

MakerDAO is DAI's stablecoin platform. MakerDAO works within the ethereum blockchain system. MakerDAO also has a special governance token called MKR. MKR token holders can control activity on the MakerDAO platform. MKR is used to create stable DAI coins. MakerDAO functions to minimize the change in the value of DAI against the value of the United States dollar. The DAI is a decentralized and stable currency which is pegged to the United States dollar. Stablecoins are immune to hyperinflation and can give a person economic freedom.

• Compound

source

Compoud allows anyone to borrow on the Compound platform by guaranteeing the coins they have, in addition to borrowing this application also allows users to store coins at competitive interest. The way this application works is by bringing people together on one platform so that they can borrow coins from each other. The smart contract based compound nature allows anyone to be able to check every code that is behind the compound application. So that compound is safer than other company-based lenders.

• Synthetix

source

Synthetix is ​​a synthetic publishing protocol that is decentralized and allows users to print, hold and trade cryptocurencies such as bitcoin, maker, and chainlink. Synthetix also has a special manage token called SNX. Synthetix was led and founded by Kain Warwick in 2017. In the synthetix network there are two main assets, namely the original SNX token and also the synth or synthetic assets, to make synthetic assets token users must wash SNX as collateral.

• bZx

source

The Bzx system is engaged in lending and borrowing, almost the same as the compound which distinguishes it is bZx can do margin trading. Margin trading is a facility provided to customers that allows customers to buy shares several times the amount obtained with available funds, so that they have a large profit.

• Uniswap

source

Uniswap was developed by Hayden Adams, this protocol operates without charging platform fees or intermediary fees, this protocol only charges gas costs on the ethereum network. The token exchange rate on this platform is based on an automatic mathematical algorithm equation that automatically calculates the balance between the two tokens and compares it to the actual demand.

A few short explanations from me on this homework of some DeFI applications, hopefully it can be useful and easy to understand for readers. If there are mistakes in my words and writing, I am happy to accept my friends' suggestions in the comments column. Thanks …

CC :
@steemitblog
@steemcurator01
@steemcurator02
@yohan2on