DeFi digital finance stack - Discussion

I have recently become interested in Bidao - https://bidaochain.com/.
It runs on the Binance chain. It looks like they are trying to replicate some of the functionality of MakerDAO. There is also a stable coin BAI.

I’m really interested to see the extent to which Polkadot will succeed and have user adoption. The fact that it brings interoperability between ecosystems seems to be quite powerful.

I have been using HoneySwap lately. Really a fantastic solution to avoid eth high fees…

Hi Amadeo, thanks for the course, I have something not clear, when putting ETH as collateral in DeFi for lending or borrowing, let’s say I put it a month for lending and get some interest. All this time this ETH is not in my Cold Wallet? Or is it posible to put as collateral but keep locked in my own cold wallet. As I understand if crypto assets are not in cold wallet they are at risk. Thanks.

Amazing how the space has changed since this video was made in March.

Oasis seems to have gone to zero in terms of savings very shortly after the video was made.

Uniswap has gone to the moon taking nearly a 1/4 of the current DeFi market and 67% of the Dex space looking on DeFi Pulse today.

Another feature I have recently found out about which I believe can be useful if used carefully are gas tokens such as Chi Gastoken and the GST2 Gas Token. These can be used effectively stock up on cheap ETH gas to use later at a time when the price spikes. Given the big gas spikes in August and September of this year I can see this being very useful until ETH manages to get scaling sorted.

This graph below showing average block usage on ETH shows most block have been full on the network since shortly after this video was made.

https://www.etherchain.org/charts/averageBlockUtilization

I very much like the 1inch Exchange and it naively supports using the Chi Gastoken.

Enjoying the course so far, my only gripe is that the slides should be designed blocked out area in the bottom right so that content never gets hidden by your video window

Regards,

Phil - aka Cryptophile

New building blocks that are essential to the DeFi digital finance stack
I consider Oracles that provide real time data to DeFi platforms like MakerDao, Compound as a building block essential to DeFi digital finance stack.

Oracles like Chainlink, Band Protocol are intermediaries that ensure trust in the DeFi ecosystem. MakerDAO utilizes an oracles module to determine the real-time price of US Dollar which in turn determines the price of its token Dai pegged to US Dollar. This ensures trust and eliminates volatility.

What other Blockchains are you seeing developing a more mature DeFi infrastructure?
Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network. Current DeFi ecosystem is Ethereum based and is facing scalability issues. Polkadot’s ecosystem is designed to be scalable and interoperable between multiple specialised blockchains.

I think that interoperability is gaining traction as a trend in DeFi - I’ve just found a DeFi one-stop shop which is being constructed on the Neo blockchain, called https://flamingo.finance/, which has five main components:

Wrapper - crosschain asset gateway (Neo, ONTd, Wrapped ETH, Wrapped BTC, Neo USDT, Neo UNI_V2_ETH_WBTC)
Swap - on-chain liquidity provider
Vault - one-stop asset manager
Perp - Automated Market Maker-based perpetual contract trading platform
DAO - Decentralised Autonomous Organisation

FLM is the governance token!

Thank you @amadeobrands for a very informative course. I like to know your thoughts on the Polkadot ecosystem and do you think the soon-to-be-released Polkaswap will be a game-changer?

Thanks Amadeo :slight_smile: for the brief introduction with live examples by showing how to do the investing part related to new emerging DeFi ecosystem. Lot of DeFi tokens emerged in the space along with lot of fraud tokens (Food meme tokens, Yield farming tokens) where risk are great now a days. By having the base built by this DeFi course i now can easily explore the new feature and protocols. I am currently exploring the Binance exchange CeFi features where they are providing swap option and add liquidity options along with saving features providing greater returns more than current 4% of my country on different tokens. Later i will provide more info about CeFi after investigating/exploring.
Then i will move to explore the DeFi protocols.

Nice lessons again Amadeo,

I’ve installed metamask and started playing arround and looking at the different sites you mentioned. It’s a whole new world and lot of exciting things happening.

As mentioned previously HoneySwap its built on xDai L2 solution, transactions are fast and fees are almost nothing! Most amazing part is that they are paid in xDai (DAI), pegged to usd.

Also on Matic you can find Quickswap, for me not usable as Honeyswap but matic blockchain is also fast and cheap.

Dear Amadeo,

Thanks for your DeFi101 course. It opens a magic world to me. It’s shame that I learned this course too late, otherwise I may not missed the crazy airdrop by Uniswap. It worths 2 new iPhone 12 at its peak !

Actually I acquired many interesting ERC20 tokens for recent 2 months and through your introduction, I will try to use these tokens to further explore the DeFi world and earn some real $$$. Will try each stack in your course to get in-depth experience.

Thank you so much!

Dear Amadeo,

I bought approx. 1000 Kyber Network tokens the last few months, now I have staked them on Kyber Vote, however, the Voting is more expensive than the rewards (break even at best, even on slowest Gwei), do you have any suggestions where to put my KNC-tokens or how the voting can be done way cheaper?

Grtz

Hello , i am exploring defi starting with uniswap among others and i can say there are a lot of options now and this is the beginning alsoi see most of the most important dapps are for DEXs and Lending , i think this normal during the first defi steps, To me flashloans (Aave) has been very interesting and i am learning everyday a little bit about it , i think it s a great apportunity but i have to say at this point i have no knowledge about programming at least no yet (i will soon jajaj) but this definately makes me more excited and i want to be part of it.
Everyday learning something new thanks for that to this amazing family

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Hi Amadeo, thanks for the introduction to Defi.

I’ve explored some of the ecosystem. I took a stake in AAVE , a decentralized money market which stems from the Ethlend protocol, it’s pretty well proven, they have a big community following and Ivan did a podcast with Stani I enjoyed.

Threefold is a really interesting project, I often use AWS cloud services so the idea of a decentralised cloud where I can be a part of the network and farm rewards is pretty cool.

https://threefold.io/ I made a docker here if anyone wants to try it: https://github.com/tom-craven/threefold-3bot

Unilayer is a decentralised exchange built on top of Uniswap, something like Binance but on-chain. I’m a bit under water with that one but the tokenomics look good, 92% of fees go to token holders, paid in ETH so there should be no inflation from staking rewards. https://unilayer.medium.com/unilayer-v2-teaser-and-updated-roadmap-7b7d0a241e5a https://unilayerdemo.com/pro-mode

I tried the Binance smart chain which, is supposed to be an improved blockchain, slightly higher transaction throughput and less costly to use than ethereum. Burgerswap was interesting, there was a lot of liquidity at launch which farmed a lot of burgers then governance reduced the rewards and now its mostly burger liquidity haha. https://burgerswap.org/

Finally I’ve tried Uniswap , bought a shitcoin, went to rekt city and got out covered in bruises haha. Watch out for those high APR tokens everyone they are either hype, rug-pulls, or deflationary in nature. I launched the Uniswap contract for AAVE-DAI and supplied some liquidity but nobody used it and I figured that people would rather stake, it was good experience though.

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Hi @amadeobrands,
I think another interesting block to add to DeFi is NFTs, Aavegotchi is working on something new with NFTs and if it works it could be great.
Besides Eth ecosystem, I think that the ecosystem of Polkadot is going to be massive, I mean they have Kusama for test network, Darwinia for Gaming, Ocean for data and the list goes on.
Also Atom“s ecosystem has interesting projects like Kava.

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As mentioned amongst my discoveries in the previous category (What is DeFi?) I see a lot of potential use for Etherisc (https://etherisc.com/) . It provides a platform for developing a myriad of decentralised insurance products and serves well as a building block in this regard.

As far as maturation amidst the rapid evolution in the DeFi space, it goes without saying that Uniswap has been a true success story and has gained tremendous traction since the recording of the videos for this course.

Ive actually exited the Unilayer investment since writing this. Dont invest in this anyone ill write it up for the defi ecosystem overview in the next section.

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Yes fully agree it seems a DeFi 301 should already be at it’s place :open_mouth: The market is moving at crazy speeds.

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Is there a way to download the presentation without using Google