I’ve begun interacting with Polygon (MATIC) & QuickSwap in the last couple of days. I’m exploring this L2 ecosystem, it’s certainly gonna be interesting seeing its development. Especially with Aave announcing their arrival into it.
The biggest emerging Blockchain in DeFi currently in the Binance Smart chain. The biggest protocols that are rapidly improving deFi are the Band Protocol and Chainlink. The Band Protocol is a cross-chain oracle network that aggregates and connects real-world data and APIs to smart contracts. Chainlink enhances the capabilities of smart contracts by enabling access to real-world data, events, payments, and more without sacrificing the security and reliability guarantees inherent to blockchain technology. Another massive trend in DeFi is the advent of NFTs in the sports and entertainment industry. NFT, are a massive incentive for working on the Ethereum Blockchain instead of Binance Smart chain. Polygon will reduce the gas fee problem with Ethereum and become the go-to Blockchain for business, currently Binance is making traction.
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hi
i really enjoying the course. it has opened up a whole new world i didn’t know was out there!!
I’m sure that i will dive deeper in to it.
Thank’s
This is all going so fast! There are so many DeFI exchanges like Sushiswap, Cakeswap…
Polkadot has been maturing a lot very quickly (NOW in 2021). Looking forward to seeing what this space has to bring in the future.
Really, the only thing that makes sense is to strive for greater collective enlightenment.
Elon Musk
Hi,
I have already invested in APY.Finance. It’s YIELD FARMING ROBO-ADVISOR continuously route your funds to a portfolio of the latest-and-greatest yield farming strategies.
I think you made this video more than a year back. Now the Defi space has changed a lot.
I think Aave had very little significance but now it has come out as major player in DeFi space.
Thanks for a very interesting course. I feel I still have so much to learn.
I found Yearn Finance as I was looking for more info in the DeFi space and I cannot understand the interest rates you can find here.
Found this definition:
“Yearn Finance is a gateway for a set of Decentralized Finance solutions, powered by the Ethereum blockchain, that allows one to maximize your investments through lending aggregation, yield-generation, and insurance.”
Can anyone with more knowledge help me understand how these rates are possible?
//Andreas
While you were discussing the whole ecosystem, I got so fascinated by it that I am considering starting something very helpful in our country here in the Philippines. I also have this desire to educate the younger generation about defi so that they can start their own company related to this ecosystem.
I firmly believe that Defi can help solve the corruption problem here in our country. After I finish the course, I will start a project about this ecosystem.
Great course future of finance
This course has provided an avalanche of information and projects to investigate so far. Great stuff.
For building blocks I came across https://www.phishfort.com/protect on https://defipulse.com/defi-list. While not directly involved in the finance aspect, they provide a browser based anti-phishing service aimed at DeFi end users. It helps boost user trust in the DeFi ecosystem.
As for another blockchain developing a DeFi infrastructure, while not mature, I came across Apollo. The main DeFi element would be the built in DEX accessible via the Apollo wallet app.
Decentralized Insurance within the DeFi Digital Finance it is essential to the growth of the DeFi Digital world in general. People and institutions want to feel secure on their financial investments.
This project seems very promising: https://insured.finance/
It offers a umbrella of insurance services like Smart Contract Coverage, Cryptocurrencies Holding and Exchange Cover, Protection against Stable Coin Failure and Rug Pull Cover. This seems the most comprehensive insurance options out there in the Digital Financial Sector, being probably a “Dream come true” to many crypto investors.
I’ve been searching and found a particularly interesting one known as finance.vote which prioritizes governance, market discovery to separate real innovative DeFi projects via technical knowledge and tokenomics and trading. Users are encouraged to research and by choosing projects that performed as expected, the users are rewarded. This is to pool research of tokens in an increasingly blazing pace with respect to cryptocurrencies growth and to filter vapourware from potentially life changing projects, allowing users of the ecosystem to be educated on expected performance of certain tokens or write off potentially scams using DeFi as a fancy keyword or getting rug-pulled.
link located here : https://www.finance.vote/
Hey Amadeo,
one protocol that is really getting my attention is the benchmark protocol, as it uses several stable coins and the use of special drawing rights . Interesting as it seems a bit different than the people at Ampleforth.
I’ve been playing around with Autofarm. Seems like a pretty solid Yield Aggregator built on BSC. Similar to Yearn or Harvest on Ethereum, but with the benefit of low fees and fast confirmation times. Whitepaper states it is audited by AnChain.ai, Vidar, and Certik to minimize smart-contract risk. It is still open to impermanent losses through scams and rug pulls, but there is an option of buying insurance through Soteria.
It has some nice user-friendly features/layout/charts/statistics. Seems to do most of its swaps/exchanges and LPs through Pancakeswap. And up until a few days ago, its lending was mainly done through Venus. These have all disappeared and have been replaced with Fulcrum by BZX. You have to lend through Fulcrum to receive tokens, and then deposit those tokens in the Autofarm vaults. The vaults auto-compound every so often depending on the vault, and also give you AUTO as a reward, at a rate dependent on the vault you’re depositing into.
It optimizes your returns in as few steps as possible and has maintained some incredibly competitive rates lately. Over the past few months, I’ve grown my BTCB position at an average of 15%APY, ETH at 15%APY, CAKE at 200%APY, and so on, but the rates have dropped a lot recently. Maybe due to Pancakeswap and in turn BSC’s insane volume lately?
Anyway, what does everyone think of BSC and maybe its not-so decentralized nature? Is it here to stay or will it start fading if Ethereum figures out its high fee issue, or Polkadot/Cardano/Polygon/Solana start taking their share of the market?
Has anyone else played around with Fulcrum, Venus, Pancakeswap, or Autofarm?
I think Yield farming has been one of the biggest steps forward for defi. The ability for everyone to make passive income is huge for every metric of cryptocurrency. The best thing is it will make people try to hold more for longer terms.
Algorand is an interesting project. It uses a pure proof of stake protocol. It’s the first blockchain to provide immediate transaction finality. Blocks are being finalized in seconds and no forking occurs that way the blockchain secures the user from double spending. No resources are being wasted solving cryptographic puzzles.
Unique comittee of users is randomly and secretly selected to approve every block. Nodes are run by entities representing diverse backgrounds across many different countries.
With algorand you can also stake your coins in ledger nano or other platforms and receive rewards. You can take them any time you want.
Designed to enable financial services for people who don’t have bank accounts, OmiseGO (OMG) is a huge market, considering more people walk around with cellular phones than have access to banks or have accounts. https://coinmarketcap.com/currencies/omg/
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What about NEAR, https://near.org/, are we going to see more and more DeFi protocols built on Near instead of Ethereum ?
it a year later from the release of the course and defi insurance has grown in the number of projects but still not widely adapted, my favorite is nsure network very easy to use ans simple ui.
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