Course Overview - Assignment

[Sung]

1. Share your thoughts on what DeFi is in this topic.

DeFi brings the power of banks back to the people who own the banked assets. Where our current society is centralized and banks are centralized entities that have control over financial assets, people (customers) depend on these entities. They have to trust banks with their money. As banks have an interest to keep growing share holder value, their tactics are not in best interest of their customers.

As people learn more about how the financial system works they can start looking at alternatives for transferring, holding and accruing value. That’s where Decentralized Finance comes in. With multiple blockchains and protocols growing rapidly looking for users there are a lot of incentives for new users.

In some protocols digital assets are collateral for other use cases. This way you could possibly hold a growth value asset while putting another say ‘synthetic asset’ to work. It gives people the power of being their own bank.

2. Write down your goals of what you want to get out of this course.

Refresh my knowledge from the previous DeFi 101 course. As I’m currently pretty deep into DeFi I’d like to strengthen my understanding and possibly find some new plays or insights.

[mcgrane5]

nice reply yeah defi issss the futureee bayybeee. keep up the good wrok it is a faascinating area to explore. you should definitely look up flashbots and the darkForest aswell, although i dont want to say too much too ruin the fun or to confuse you. but yess you will very much enjoy defi201

[marsrvr]

[Val_CK]

1. DeFi, or “decentralized finance” is the way of the future of finance, dealing with lending, investing, saving, etc. without the involvement/control of a single entity. All while being completely transparent.
2. I hope to learn all i can about defi so i can better judge projects i may be interested in.

[Laralou]

1. To me, defi is a new revolution against the super elite banking industry. I get to bypass the middleman, which I’ve always hated having to follow their rules and pay their fees, that never made sense to me. Defi gives you more control over what you can do with your money. It also gives you more options to make your own decisions on where you want to store it at.
2. I’m already into defi, doing some yield farming. However, I would really love to understand it, all of it, and learn how to set up some charts to track my profits/losses. Also, to have the confidence that I made the right choice and either keep it or change it. Defi, to me, has a steep learning curve.

[Xabier22]

1.Defi stands for decentralised finance, its a new alternative to conventional centralised finance.
2. I think i understand blockchain pretty well but there is something i cant get: layer 2. I hope this helps me unsderstand it.

[spongetti]

To me, DeFi means the hope of making up for the mistakes that banking has meant so far.
But even though I’m excited by the idea that DeFi could help make the unfair distribution of wealth fairer, I still have my doubts so far.
Will DeFi succeed in actually allowing all people to share in a more equitable global financial system?
My goal is to better understand all of these issues and keep up with developments around cryptocurrency, DeFi, and NFTs.

[maddie]

1. Share your thoughts on what DeFi is in this topic.
   DeFi is decentralized finance. Finance that is in the hands of the people, suppored by blockchain technology. As opposed to the old traditional financial system centrally controlled by banks.
2. Write down your goals of what you want to get out of this course.
   To increase my knowledge about DeFi to a level where I can feel confident when making decisions for my own investments, as well as to be able to work as a software developer in the DeFi space.

[Bernardini]

Trust the code rather than the financial institution. Access to financial services without the element of trust and the need for intermediaries. Profits rewarding the users rather than the institution.

My goal is to be part of the ecosystem and be able to contribute to new and existing projects.

[Cindy]

I think DeFi is many of the functions of the traditional banking system but without the institutions and “insiders club” behavior and especially without the connections to government. Which is what really makes it scary to our government. It is using technology to make a more open ecosystem.
As to what I want to get out of it- I want to understand what I am doing for my own use. The stock market is a mess and likely to get worse and it is destroying our retirement portfolio. I’d also like to get a job in the crypto space that would allow me to work remotely and move out of the United States. I just need health insurance.

[Mroman]

1. Share your thoughts on what DeFi is in this topic.
   Decentralized Finance stands for the use of tradicional economics use cases like borrowing, lending…but in a protocol regulated by code not by centralized entities. Therefore give the people the freedom to interact financially without paying the middleman.
2. Write down your goals of what you want to get out of this course.
   I would like to gain security when interacting in DEFI protocols without being afraid of my metamask wallet being haccked or the funds being rugpull…
   I have already done DEFI 101 and Defi 201 with Amadeo, is this course bringing new things in addition to what was already there? I imagine so, becuase the space evolve so much that is why I am taking this course but would like someone else view…Thanks

[cotts31]

1. DeFi is Decentralized Finance which means there is no central authority that controls the entire system. Our current world and financial system is very centralized. This may have worked for some time but as the world is changing we are seeing how dangerous it is to have a central authority that can have complete control over everything. DeFi is a living and breathing system that is always evolving and growing with the goal of benefiting everyone. CeFi inevitably invites corruption and greed.

2. My goal is to build upon the knowledge I already have within Crypto (which is likely pretty limited). I’ve been involved in trading cryptos and learning about the projects, but ultimately I want to become certified and much more knowledgeable on Blockchain so I can build a career in this industry.

[swervinmervin23]

1.Defi is a decentralised blockchain financial system on which you can buy, sell,swap,trade,borrow and lend crypto.
It cuts out any third party`s and make all Txns transparent, trustless and permission less.

2. • I want to have a better overall understanding of how Defi works as to make everything I do simpler.
   • I want to be able to teach people the basics of DeFi.
   • Get the most out it.

[xenmayer]

1. Share your thoughts on what DeFi is in this topic.

The DeFi is a concept in order to describe all about decentralised storing, transferring of money.

2. Write down your goals of what you want to get out of this course.

I want to :

1. know better about:

• dedicated usage of DeFi
• possible implementations

2. create/growth new ideas of business within DeFi idea.

[nawaf]

1. Share your thoughts on what DeFi is in this topic.
   Defi (Decentralized Finance) is a Decentralized Financial protocol that is without a central authority, users are not required to do KYC and can conduct transactions using their wallets they can borrow,lend, trade, swap crypto all under one umbrella with the help of smart contracts in Defi smart contracts are the core operator of those platforms without smart contracts we would have a centralized authority

2. Write down your goals of what you want to get out of this course.
   Getting a better idea on how DEFI works in more detail probably more when it comes to how pricing oracles are created and the viability of such contracts reentrancy attacks too and how proxies are used

[PierX]

Hello all, let’s start this journey!

1. Share your thoughts on what DeFi is in this topic:

DeFi in my humble opinion is where the financial world will inevitably go in the near future… A decentralized finance open to all, where the middleman, and all the inefficiencies and injustices of traditional finance will be eliminated. Long live DeFi !!

2. Write down your goals of what you want to get out of this course:

I want to be able to hone my knowledge and become a DeFi master.

[Blops]

1 DeFi is the direction of finance.
2 profits, knowledge,start to make plans by my own

[Mirthis]

1. Decentralized finance is a set of financial services (and underlying nifrastructure) provided via decentralized application (dapps) built leveraging blockchain technology. This allows to remove control from single individuals and organisation (i.e.: banks), democratise access to services (i.e.: lending), reduce costs (i.e.: no middle men and overhead) and increase fairness (everyone is threated equally based on the rules coded in the dApp)

2. I want to get a better understanding of what Defi is, problem it tries to solve, existing and potential future applications, how specific concepts works (i.e.: liquidity pools, AMM). With this knowledge I hope to be able to more closely follow development in the space and contribute to it.

[diego69]

1. Share your thoughts on what DeFi is in this topic.

I have already quite some experience with DeFi. I started to water my feet around mid 2020. I learned about Maker DAO and how to mint DAI using my Ethereum reserves. It was a mindblowing experience as if I were emulating the Fed. I wasn’t just borrowing money, but minting. In those days Ethereum fees weren’t so high so it made sense to mint 2000 DAI. However, by the end of 2020 the Ethereum fees skyrocketed. To mint 2500 DAI I had to pay the equavalent of $200 in gas fees. Ethereum was victim of its own success as many people were using DeFi (and I think it was the time when the NFT fever was begining). Therefore I started to search to alternatives to DAI in other protocols. I found one very alike in the Binance protocol (I can’t remember its name) but due to the fact that this protocol is heavily centralized plus the protocol low liquidity kept me aside and continue researching. I discovered the algorithmic stablecoins. Most of them had already crash. There was the Terra protocol and UST. It was fascinating to learn about, but the algorithmic thing kept me alert too. I was looking something decentralized but collaterized. Never found something like DAI in other protocols, but early 2021 was the time of the layers 2. I discovered Polygon and how to get loans with AAVE. This time were brick and mortar loans, not minting but for my needs work pretty much the same. Later on there were Optimism. I read about it, but never tryied. Polygon was doing just great. However, I have heard that Polygon means some centralization and perhaps suscepitible to attacks. I realy don’t know the answer.

I have heard that there were people developing strategies to make tons of money using all these possibilities that DeFI offers (lending, borrowing, staking, farming, etc). I do liitle know about them, and if they are very profitable they must been very risky too. Every once in a while a hear of protocols that I never heard of that crashes and people losing a lot of money. The most famous one is the recently crash of Terra Luna and its stablecoin. How lucky I was never to do my business in that protocol.

2. Write down your goals of what you want to get out of this course.

Reinforce my empiric knowledge in DeFi to take more advantage of new protocols, trends, technologies, strategies, and so on. I want also to be more clever to spot the real risks on all the DeFi out there. I bet there’s so much to come and develop that there are unlimmited possibilites.

[DelBobs]

To me Defi is a whole new world of investment oppurnity that will not block me from knowing what is going on with my money. It will allow me to understand what I’m doing with my funds and where it is allocated for without someone using it for something I didn’t know about. No middle person saying no I can’t do that or this. It feels like it will allow me to be on the same level as the big fish where I can understand the market place bettter.

My goals are to be able to generate wealth by understanding the Defi market place better. I know it all carry’s risk but in the Defi stack I learned about I can investigate any area I wish to pursue and gather all the knowledge available before investing.