DeFi: (🏦) Decentralized Finance is a movement in the crypto industry which aims to disrupt central banks by offering bank-like services such as high interest-earning accounts, lending & borrowing, and currency exchange - all on the Ethereum blockchain through self governing systems.
👉 Updated: 1/07/23
**NEW CONTENT 🔥
DeFi 101 - The Easy To Digest Guide
- 🏧 Step 1: Getting Started: Your Crypto Wallet
- ⛓️ Navigating Different Networks
- 🔀 Sending Crypto Between Networks
- 🧠 Step 2: Learn the Basics
- 👨🏫 Step 3: Understand the 4 pillars of DeFi:
- ▶️ Step 4: Tutorials - Start Using DeFi
- 📚 DeFi Resources & Notable People
- 📝 DeFi - By The Category
- 🕹️ Explore The Metaverse: Decentraland
🏧 Step 1: Getting Started: Your Crypto Wallet
⛓️ Navigating Different Networks
Each Blockchain (network) has its own eco-system, explore them all with your crypto wallet!
Most networks are compatible with the same kind of wallet, meaning you have the same public address across all networks!
🔀 Sending Crypto Between Networks
Bridges exist to send crypto between networks
Below are websites you can connect to and ‘bridge’ your crypto!
👉 Hop Bridge
👉 Celer bridge
👉 Multichain Bridge
👉 Connext Bridge..
🧠 Step 2: Learn the Basics
👨🏫 Step 3: Understand the 4 pillars of DeFi:
Understand these 4 high level concepts before diving in.
⚖️ Decentralization
- Spreading out responsibility to many different parties instead of one.
- Removing single point of power, failure, authority.
- Letting people govern the systems they use.
⛓️ Blockchain
- Public, digital database of crypto currency transactions.
- Constantly updated and backed up across millions of machines.
- Transactions are permanent, irreversible, and viewable by anyone.
"DeFi is like putting money on digital ice skates, a world where your money is uncaged, fast, and free from banks or 3-5 business days"
🏦 Decentralized Finance
- Open & borderless financial system that connects the world through the internet.
- Peer to Peer instead of relying on banks or institutions.
- Financial service 'apps' that run themselves and are governed by its users via voting. (example: Compound)
Heads up: If you plan on skipping straight to the 'Start Using DeFi' section, make sure you understand the following:
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▶️ Step 4: Tutorials - Start Using DeFi
📚 DeFi Resources & Notable People
🎧 DeFi Podcasts & Resources 📊
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🐦 DeFi Twitter Accounts to Follow
👉 Kris Kay (DeFi Education)
👉 DeFi Dad (DeFi Tutorials)
👉 Token Terminal (DeFi chart analytics)
👉 Nansen Intern (DeFi insights)
👉 Crypto Gucci (Ethereum newsletter)
👉 db (fastest finance news, turn notifs on)
📝 DeFi - By The Category
Ethereum Wallets:
- MetaMask (browser)
- Argent (App)
- Ledger Nano (Hardware)
- Trezor (hardware)
- Exodus (desktop wallet)
- MyEtherWallet (Self private keys)
- Trust Wallet (app)
Exchanges:
- Uniswap (DEX)
- Sushiswap (DEX)
- QuickSwap (DEX L2)
- Balancer (DEX)
- Binance.com (CEX global)
- Binance.us (CEX USA only)
- Crypto.com (CEX)
- Kraken (CEX)
Stable Coins:
- DAI (decentralized)
- USDC (centralized)
- USDT (centralized)
- TrueUSD (centralized)
- PAX (centralized)
- sUSD (decentralized)
- GUSD (centralied)
- alUSD
Payments:
Derivatives Platforms:
NFT Marketplaces:
Portfolio Management
Smart Contract Insurance
DeFi Widgets
- cryptofees.info (Fees collected $$$)
- https://pools.fyi/ (Best Liquidity Pools)
- https://ethgasstation.info/ (Live ETH gas prices)
Cool Stuff
- NFTX (NFT index funds)
- NFTfi (NFT-Based collateralized loans)
- LarvaLabs - NFT experiments (cryptopunks)
- https://txstreet.com/ - Visualized blockchain transactions
Yield Aggregators
Explore The Metaverse: Decentraland
Click the link below to learn about the first Decentralized Virtual World on Ethereum
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Decentraland Guide! - Explore the Metaverse👆👆👆
Made with 💜 - by @thekriskay - share with a friend to help DeFi grow.
Lets Do DeFi ™ is a free DeFi educational resource and guide aimed to explain complicated crypto stuff to everyday folks.
© DeFi Donut 2021 - © Lets Do DeFi 2021 |