Lets Do DeFi - DeFi Guides Grandma Can Follow đŸ‘ĩđŸģ
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Lets Do DeFi - DeFi Guides Grandma Can Follow đŸ‘ĩđŸģ

DeFi: (đŸĻ) 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: 011/01/21

**new Dapp Wiki đŸ”Ĩ

DeFi 101 - The Easy To Digest Guide

  1. 🧠 DeFi Need-To-Know Topic Summaries
  2. 👨‍đŸĢ Crypto Terms Explained In 3 Sentences:
  3. â–ļī¸ Tutorials - Start Using DeFi
  4. 📚 DeFi Resources & People To Follow
  5. 📅 DeFi Monthly News / Events - Explained To Monkeys
  6. 📝 DeFi - By The Category
  7. 🎮 Explore The Metaverse: Decentraland

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🧠 DeFi Need-To-Know Topic Summaries

DeFi Things You Need-To-Know

👨‍đŸĢ Crypto Terms Explained In 3 Sentences:

Understand these 5 high level concepts before diving head first into DeFi.

⚖ī¸ 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.

🌐 Ethereum Blockchain
  • The 'app store' base layer where DeFi apps are built on.
  • This 'app store' is decentralized, meaning no one owns or runs it. (Community owned)
  • This allows for decentralized 'apps' to be built on this 'app store', only Ethereum's native currency (ETH) is accepted for transactions.
đŸĻ 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)

⛓ī¸ 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.
📱 Decentralized Apps (Dapps)
  • Any type of app such as games, lending & borrowing platforms, NFT marketplaces etc..
  • An app can only be decentralized (not owned by anyone), if it is built on a decentralized 'app store' (i.e : Ethereum)
  • Examples of Dapps: Compound, Rarible, AAVE.

"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"

⚠ī¸

Heads up: If you plan on skipping straight to the 'Start Using DeFi' section, make sure you understand the following:

  • Gas Prices - Every transaction on the Ethereum blockchain (sending coins, depositing into AAVE, etc...) requires a fee, paid in ETH. (Always have some ETH)
  • Gas Prices pt. 2 - Gas fees can be expensive at times when moving lower amounts. Both a $50 transaction & a $500,000 transaction can have a $40 fee.
  • Ethereum is the 'network' and ETH is the token. Gas fees are paid in ETH. Know the difference. 🙂
  • MetaMask is an Ethereum Wallet! - ⛔ This means you can't send Bitcoin to it! (Unless you wrap it). Metamask = Ethereum tokens only! (Ethereum token list here)
  • While testing the DeFi waters, only experiment with small amounts of $$$. (Until you get the hang)

â–ļī¸ Tutorials - Start Using DeFi

Get Your Hands Dirty With DeFi

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📚 DeFi Resources & Notable People

🎧 DeFi Podcasts / Newsletters / Sources

📩 Newsletters
🎙ī¸ DeFi Podcasts
🔴 YouTube Channels (Educational)
📊 DeFi Dashboards

đŸ’ŧ DeFi Job Boards

đŸĻ DeFi Twitter Accounts to Follow

👉 Ryan S. Adams (Bankless host)

👉 David Hoffman (Bankless host)

👉 Stani.eth (Founder of AAVE)

👉 Marc Zeller (AAVE Engineer)

👉 Kris Kay (DeFi Donut)

👉 Anthony Sassano (Daily Gwei Newsletter)

👉 Scoopy (Alchemix co-founder)

👉 Robert Leshner (Founder of Compound)

👉 Scott Lewis (DeFi Pulse)

👉 Mark Cuban (No introduction needed)

👉 DCInvestor (DeFi Investor / NFT collector)

👉 DeFi Dad (DeFi Tutorials)

📅 DeFi Monthly News - Explained To Monkeys

July 2021 Highlights:

Market = Crab đŸĻ€ = sideways price action , very annoy

🍌 Coca-Cola launch NFT wearable for Decentraland, wow.

🍌 EIP 1559 get pushed back tiny bit to Aug 4. Can't Wait.

🍌 Ethereum soon become "deflation by demand"

🍌 Axie Infinity Metaverse price go crazy. much profit.

🍌 Crypto market slowly climb back up.

Monthly Monkey News Archive

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📝 DeFi - By The Category

Ethereum Wallets:

Lending & Borrowing:

Exchanges:

Stable Coins:

  • DAI (decentralized)
  • USDC (centralized)
  • USDT (centralized)
  • TrueUSD (centralized)
  • PAX (centralized)
  • sUSD (decentralized)
  • GUSD (centralied)
  • alUSD

Smart Contract Insurance

DeFi Widgets

Cool Stuff

Yield Aggregators

Explore The Metaverse: Decentraland

Click the link below to learn about the first Decentralized Virtual World on Ethereum

👇👇👇

🕹ī¸
Decentraland Guide! - Explore the Metaverse

👆👆👆

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Lets Do DeFi â„ĸ is a free DeFi educational resource and guide aimed to explain complicated crypto stuff to everyday folks.

Š DeFi Donut 2021 - Š Lets Do DeFi 2021 |

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