Hello crypto lovers & friends ! It's another week contest @cryptoacademy community and @steemitblog. There communities are our awesome that dedicated themselves to help anyone earn and learn from Cryptocurrency, with the help of Educative Professor's like @gbenga. He's lectures was great with this assignment below.

Write on a Decentralized Finance Ecosystem as well as a Project/Protocol in the Ecosystem.

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What Is Decentralized Finance

Decentralized Finance in short format ( DeFi) is a monetary system that makes use of public blockchain withkut the permission or agreement from centralized authority. However, DeFi handles lots of DApps & projects in the public blockchain and as well creates more fame and trust with blockchain compared to traditional. banks. DeFi uses smart contracts without the interference of brokers or anyone on WhatsApp
transactions.

When using DeFi, you don't need any access right on either borrowing or lendings and the majority. DApps were created using the Ethereum network. Most of the ideas though recently, are faster, cheap (very cheap) compared to when I knew about it. It has low cost in transactions and security and transparency.

Benefits Of Decentralized Finance
• It's easily accessible to work.
• There's high liquidity for the user.
• It's decentralized with no third parties.
• It helps you to saves time in transactions.
• You've 100% management over your savings and finally low rate in cyber thefts and extra extra plus from work .

Compound
In Decentralized Finance protocols, we can say that Compound are smart contracts built on Ethereum which are open as a platform and very accessible. Compound gears on permitting borrowers to take out loans then lenders to provide loans by locking their crypto assets into the protocol. Compound has been in use since the year 2017

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Compound takes serious note on permitting borrowers taking loans then lenders staking out loans through the users locking there assets in the protocol given. The moment they lock their crypto wallet, borrowers become permitted to borrow without been checked for a credit assessment because every user is legible to borrow by the worth of your wallet (assest).

Benefits of Compound:
• Compound permits steady users about earning income passively.
• Compound has given lenders a leverage of getting or rather makinguchkmey than the initial capital given out.
• Compound has good security network.

COMP has been the token of governance for the supposed amount that has been distributed to all lenders and same goes for the borrowers on the Compound protocol. A research was made and it was concluded that COMP distributions happens each time the Ethereum block is mined every 15 seconds in a quantity proportional on the interest taken by each asset. The usage of COMP token for the governance of Compound moves towards abolishing the third party involvement, a centralized method that are mostly used by traditional banks.

If a crypto-user is willingly to own 1% sum of the COMP, supplies will be subjected and the votes will be done by collections to change the protocol stated; this is because a COMP-token equals to one vote : this means that every user has the right to vote on any project either as an acceptance or not because Compound is none third party governance blockchain.

**How To Use Compound From Your DApps Trust Wallet
• Open your Trust Wallet

• Go to DApps

•Go to New DApps and search for Compound then click on it

• Click on any of the assests there...like Compound

• Choose to either borrow or lend

Note : I'm still trying to learn how to use the DApps well

When using COMP token, you're enabled to vote and still delegate your voting power to change protocols.

In recent times, Compound users are collectively dropping their assets in different amount for the large pool of market that would permit others to borrow then lenders get interest in returen and slipts it amongst it amongst themselves. One good thing that happens to especially lenders are, they're been given a Compound token from the exchange been done. Compound tokens are ERC20 tokens that are meant for fundamental assets at any time.

Conclusion

Honestly this is my first time writing about crypto currency to this degree and I wish to learn more after this assignment from you Professor @gbenga and as well personally.
Thanks so much for the lectures and assignment Professor

Special Regards
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