If you’ve read our post on Maker, you now understand the granddaddy of all DeFi — Maker DAO.In this post, we’re going to cover an advancement of this lending and borrowing concept in DeFi, that is somewhat reminiscent of pawnshops. So here’s a setup you might know if you’ve ever been to a pawn shop …
MakerDAO is exactly what it sounds like –it’s a DAO, a decentralized autonomous organization and its purpose is to make DAI. DAI is a digital dollar backed by locked up cryptoassets like ETH, BAT, WBTC, KNC, and more. What Maker figured out years ahead of the explosive rise of DeFi is that a stablecoin could …
DeFi is constantly changing, with new projects popping up seemingly every single day. This is by no means an exhaustive list. It’s just the tip of the iceberg. We went with the more tried and tested projects, the ones that have been live the longest and have the most value locked in their smart contracts. …
In DeFi, our money is controlled by us, the user, while the apps we use are created by different teams who share one common thread, the blockchain. In most cases that’s Ethereum. The first tool one needs in DeFi is a wallet that interacts with smart contracts in DeFi apps so you can tell the …
DeFi today can be found mostly flourishing on Ethereum. New applications launch faster than you can keep up with.That empire is only going to grow. The network effects of developers working together and building composable tools that can be stacked and benefit one another is a very competitive moat, making it difficult for other smart …
How Bitcoin, Ethereum, and Other Blockchains Fit Within DeFi Read More »
Interoperability happens when two or more systems can communicate and exchange value. The best way to understand interoperability is to see the early success stories of it in action. Today there’s about $1T in BTC liquidity and meanwhile, DeFi’s Total Value Locked is still just over $40 billion. Developers have been working to enable users …
What is Interoperability and Why is it Important? Read More »
While crypto has been around over 10 years, the most popular apps until the last year have been centralized crypto exchanges. These centralized exchanges like Binance and Coinbase do billions in trade volume daily but also require users to submit personal details like name, email and even physical address. This might seem harmless at first …
When you use a DeFi application, it’s powered by hardcoded rules. The idea is that these rules provide users with the ability to do powerful but predictable things with their money–like borrow, lend, trade, and earn interest. In order for users to coordinate such activities and engage with their money peer-to-peer, it means trusting the …
When you use a DeFi application, there’s no sign-up with your email and name, there’s no ID required, and in most cases, there’s no restriction on your geographical location. All one has to do is click a few buttons and that’s it! Similar to a roundabout, you can enter or exit (deposit or withdraw your …
What Does “Permissionless” Mean and Why Does it Matter? Read More »
In DeFi, your money becomes empowered. You can store it, lend it, trade it, zap it, and track it real-time. It’s a bit like a game but at the heart of this is more control, aka, self-custody. Self-custody refers to individuals being 100% in control of their assets, similar to cash. Except this is digital …
DeFi Wallets and Self-Custody: How to be 100% in Control Read More »
