- in a telegram chat between Eth developers.
- President Biden signed a executive order for government over sight of crypto.
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- Where did the term DeFi originate? Be as detailed in your explanation as you’d like
Traditionally we have Centralized Finance or in short CeFi. As protocols on different blockchains are not controlled by a central entity but by code (without intermediaries) it’s therefore called Decentralized Finance or in short DeFi.
“The term DeFi was born in an August 2018 Telegram chat between Ethereum developers and entrepreneurs including Inje Yeo of Set Protocol, Blake Henderson of 0x and Brendan Forster of Dharma.”
- Find an important event or protocol that I didn’t mention, but you think is important to be recorded in the history of DeFi. Then explain why it should be included and check out what other community members have added. None of us are as smart as all of us so let’s work together on this.
On Avalanche there’s Trader Joe DEX. Staking Pools for the exchange token Joe are now split into 3 different functions giving users the opportunity to stake Joe into sJoe for stablecoin rewards (USDC), earn farm boost rewards as veJoe or participate in future launch events by staking into rJoe.
‘Bribing’ is also an interesting development where users already invested in an ecosystem are offered higher rewards by staking in a different pool but keeping funds in the ecosystem like Fantom or Terra.
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yeah @Sung i like yuour comment on avalanche. i relly like trader joes staking option for stablecoin rewwards. theres actually many places that provide really high returns for being a stable coin LP provider because stablecoins are the bridge from fiat to crypto. keep up the good research
It seems that the term Defi goes back to a chat on Telegram between Ethereum developers who were discussing building ‘open finance’ Dapps.
I am very interested in the Cosmos, the “Internet of blockchains” and future interchain security that is planned.
It may well help with the problems of interoperability among blockchains. (e.g. security, governance and cost)
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yeah definitely. internet of blockhains is polkadots big thing. there concept is you have one main relay cahin and a bunch of connected parachains that are application specific, say a parachain for defi, one for web3 gaming, another for nfts etc…and there governace model is absolutely unreal. you should give it a read
https://wiki.polkadot.network/docs/learn-governance
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I think that there is a lot of money behind Polkadot too!
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yeah lodes. they did the acutions of their parachains recently and you needed mad money to be able to quuire one
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Term DeFi originate from Telegram chat between Ethereum developers (August 2018 ). Reggie Middleton is also considered the founder of DeFI. He talked about the DeFi concept much earlier (2014), however he did not call it DeFi.
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I believe that it is worth mentioning projects that provide privacy to DeFi spaces, such as DERO and Oasis Network (ROSE).
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- The term “defi” originated in 2018 during a telegram chat between some developers and entrepreneurs. Specifically, Inje Yeo of Set Protocol, Blake Henderson of 0x, and Brendon Forster of Dharma. This set in motion a cataclysm of events that brought about defi as it is today, and where it will be in the future.
2)The polygon (matic) protocol. The network that is super cheap and really fast, and who doesn’t like fast and cheap. You can build on top of their layer 2 and tapp into ethereum to inherit their security model, deploy smart contracts, yield farm, interact with hundreds of Dapps, and create your own NFT.
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- Where did the term DeFi originate? I think Defi term originate in 2017 be launching Marker protocol as it is considered as a first Defi protocol or at least one of them.
- Find an important event or protocol that I didn’t mention… I read lot of other students comments and I have nothing much to add.
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Etymology of “DeFi” standard answer: Telegram chat. There’s a link to the Medium post where it was reported.
Unmentioned DeFi historical event? I submit US (and other) regulatory actions starting to bully DeFi components. vs. Binance is one thing (they’ve got it coming). But vs. 1Inch is another and sets an ominous trend. It all comes down to “fully compliant or fully decentralized”. The hammer is falling on those in between.
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The term DeFi (decentralized finance) came about from a telegram chat among Eth developers and entrepreneurs in August 2018 who wanted to create open financial applications built on top of the Ethereum blockchain.
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Serum DEX is an up and coming dex built on the Solana blockchain -which imo, is already giving Eth bc a run for its money --with faster transactions and much lower fees.
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The term DeFi originated in a telegram chat between Ethereum developers and entrepreneurs. I didn’t make the association before but they picked it because not only does it stand for decentralized finance, but the acronym sounded out is “Defy”.
Fantom should be included because it has been a successful launch, the lead developers left the project and the crypto space which had a strong negative impact on the price of FTM. you can read about it here: https://www.reddit.com/r/CryptoCurrency/comments/t88xsy/fantom_developer_and_yearn_finance_founder_quit/
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It is said to have originatied in a telegram chat between ethereum delelopers and entrepeneurs who were brainstorming to come up with a name for the concept.
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Something that no one mentioned yet, is DeFi for Bitcoin. Bitcoin has been said not be well suited for this due to the limited functions of Bitcoin script. But there are other layers being built on top to facilitate this. Some examples of projects are Stacks, Rootstock, Sovryn and DeFiChain. I think this should definitely be worth mentioning in the history of DeFi since Bitcoin is the original crypto and has the biggest market cap.
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- Although it may have being invented earlier, it become popular in summer 2020 around May, where the liquidity stake start increasing until today from to a significant amounts.
- Another protocol is Pancakeswap, becuase it allows adoption on many users to DEFI protocols.
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1.It was August 2018 and Ethereum developers and entrepreneurs were brainstorming for a name to christen the constellation of open financial applications being built on their blockchain. “Open Horizon,” “Open Financial Protocols,” and “Lattice Network” were suggested, but one – “DeFi” – eventually won out, ushering forth a global, borderless, permissionless, decentralized financial revolution that continues to gain momentum today.
- Bitcoin’s Genesis Block.
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- In short DeFi name was born in telegram chat between software developers & entrepreneurs in 2018.
- I think Terra (LUNA) was not mentioned.
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- Assignment – Where did the term DeFi originate? Be as detailed in your explanation as you’d like
Defi Originated from a telegram group where Ethereum developers and entrepreneurs including Inje Yeo of Set Protocol, Blake Henderson of 0x and Brendan Forster of Dharma were discussing what to call this open financial application as.
- Forum Task – Find an important event or protocol that I didn’t mention, but you think is important to be recorded in the history of DeFi. Then explain why it should be included and check out what other community members have added. None of us are as smart as all of us so let’s work together on this.
Spookyswap which runs on the fantom opera blockchain
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The term DeFi, short for decentralized finance, was born in an August 2018 Telegram chat between Ethereum developers and entrepreneurs including Inje Yeo of Set
avalanche or pancakeswap
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As mentioned by others " The term DeFi, short for decentralized finance, was **born in an August 2018 Telegram chat between Ethereum developers and entrepreneurs including Inje Yeo of Set Protocol, Blake Henderson of 0x and Brendan Forster of Dharma."
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I think Curve plays quite an important role in the overall ecosystem although I can’t say I properly understand how it works and where it fits (yet!)
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