What is DEFI? Decentralized Finance Explained (Ethereum, MakerDAO, Compound, Uniswap, Kyber)
DeFi or decentralized finance is a movement that aims at making a new financial system that is open to everyone and doesn’t require trusting intermediaries like banks. To achieve that defi relies heavily on cryptography, blockchain and smart contracts.
Smart contracts are the main building blocks of defi. If you don’t know what smart contracts are or you want to refresh your knowledge you can pause this video and watch my introduction to smart contracts video first.
Smart Contracts Explained ►
It’s worth noticing that currently most if not pretty much all of the defi projects are built on Ethereum. The main reason for this is the Ethereum’s fairly robust programming language called Solidity that allows for writing advanced smart contracts that can contain all the necessary logic for the defi applications, besides that Ethereum has the most developed ecosystem across all the smart contract platforms with thousands of developers building new applications every day and the most value locked in smart contracts which create an additional network effect. In fact, all the defi protocols mentioned in this video are built on Ethereum.
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These are amazing videos and I share them with a lot of people. Would you be able to do a review about Ramp Defi? They have high yield $CAKE assets you can use for collaterals!
I'm very new to this and only had knowledge around regular stocks. Your videos just made it so easy for me to understand this maybe complex world but very very full of hope. Thank you so much, keep up the great work!
This was helpful.
You learn more on YouTube than you could ever in college
I’m I the only one who is completely lost?
Best handwriting in the game hands down. I’m sure you could do a calligraphy channel in your sleep!
In few months or no time people will definitely start kicking themselves in regret for missing the opportunity to buy or invest in cryptocurrency.
Liquidity mining will make millionaires but knowledge is 🔑
Great video… but I'd argue DEFI is actually still just as expensive as CEFI for now.
By the time you've paid to buy crypto, exchange coins, send coins and then withdraw back into fiat… the fees are pretty heavy.
My brain hurts
should i use DAI for DeFi?
Could fund-raising (ICOs) be considered a component of DeFi?
I gotta say thank you sir, your explanation is high quality as same as the video. Really well done
Didn’t know Dracula knows DeFi
sanks
$FEG💎💎💎
So much info thank you for this video 💯 🙏
Could you do one on DAOs? Would love to hear your explanation
We are using defi's to trade or like to do some activity ok i got it but u said there is no third party involved but in dex's the liquidity can be provided by a person so he is involving in it
Provided knowledge on this channel for free is astonishing! Thank you so much!
True? The only reason to use a "centralized finance" exchange (CeFi) is to inject cash, trade for crypto, but then to avoid high fees one should move the crypto to DeFi for any trading between crypto things … and then also in order to go back to cash one would need to move any crypto back to a CeFi again to withdraw cash to a bank ???
Thank you 🙏
I have joined Defi and started to make a profit
DeFi is the future, period. Given the current situation and the pace of its development, very soon all trade will move to the defi sector, and the darknet will escape to the utopia ecosystem.
You deserve more subs! Amazing content 🙌
Thank you for your education 🙏 Watching these have been very helpful in clearing up a lot of confusion for me.
Thank you
Why is this so hard for me to understand.
You are no doubt the best content creator on the web.
awesome man *****nice style on the Van Gogh
You've explained DEFI very well. Excellent teaching.
But is synthetix decentralized? they have kwenta (their dex) but their normal platform is centralized, from my understanding…