Steemit Crypto Academy | Introduction to Decentralized Finance (DeFi) – A new Fintech Revolution (Part 1) | Homework task 4 for @yohan2on

Hello Steemians!!

This time I will try to do the homework task that answers the question made by one of the professors at Crypto Academy @yohan2on, as for the questions from the homework given is to briefly explain each of the following DeFi Dapps:

• Maker
• Compound
• Synthetix
• bZx
• Uniswap

SOURCE

• MAKER

A very useful platform for users for the lending and borrowing process. The assets that you have can be used as collateral for the borrowing process. You don't need difficult to think about who will you borrow from, because you can borrow from fellow users. This makes the platform more preferred by the world community. All transactions are very easy for users to understand even though you are new users. Makers make financial services easier and more accepted by all ages category.

• COUMPOUND

Compound facilitates transactions between sellers and buyers because transactions only occur in a protocol without third-party interaction. So everything you transact will remain safe without fear of loss. Likewise with the lending and borrowing process where you can lock assets in protocol. Then you can open it again when you want to pay off the loan that we borrowed earlier. Compound makes users feel safe and calm in every transaction have made.

• SYNTHETIX

Synthetix is a protokol based ethereum that focuses on currency stocks and real world trading such as gold, silver and other precious metals. To get profit, you can make transactions now for the next few years with the confidence that the assets you have will increase in price. With the assets you have, you can make a kind of agreement between the seller and the buyer. As the user you can make a profit with this way.

• BZX

bZx is a DeFi product that provides lending and borrowing facilities with an excess of margin trading. This makes crypto lovers who want to get a lot of benefits tempted and use this application. bZx has three usable tokens: iTokens, pTokens, and BZRX tokens. Each token has a different function and has its own advantages. However, as a user you have to be careful about transactions on this platform because because the level of security is low. But don't be afraid because this is a very good and popular application.

• UNISWAP

Uniswap An innovative protocol based ethereum that allows all users who have an etherum wallet can exchange tokens on this platform. Excange transaction facilities between coins to coins make people use it a lot. The exchange between tokens occurs automatically via a mathematical algorithm available on the platform. As a user, you better be a provider so you can benefit. Uniswap is classified as high risk asset management. Keep using your risk and asset management very good to keep it under control.

SOURCE

Thank you for reading my blog, maybe there are still many mistakes of my homework, but here it is. Hope it will be useful for all of you.

CC:
@yohan2on
@steemitblog
@steemcurator01
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