Today I will briefly explain the 5 Dapps DEFI, this is the homework given by professor @yohan2on this week, the 5 Dapps are:
- Maker
- Compound
- Synthetix
- bZx
- Uniswap
Maker
MakerDAO works within the ethereum blockchain system. MakerDAO was developed as a medium for borrowing and saving on the ethereum blockchain system. Makerdao created a protocol that allows anyone with ETH and a MetaMask wallet to borrow money in the form of sabtablecoins called DAI. The MakerDAO token is called MKR. MKR token holders can control activity on the MakerDAO platform. The DAI is a decentralized and stable currency which is pegged to the United States dollar.
Compound
Compoud is a container that is in the ethereum blockchain system that allows anyone to take loans and facilitates other users to make loans, with the guarantee that their crypto assets will be locked in a protocol. The advantage of using this compound application is that loans can be repaid and crypto assets that are locked in a protocol can be withdrawn at any time according to our wishes.
Synthetix
Synthetix is a protocol that resides in the ethereum block system that allows users to print, hold and trade cryptocurency. The synthetix token is called SNX. With Synthetix anyone in the world can get exposure to Apple and Tesla stocks without having to deal with very high financial regulations. In the synthetix network there are two main assets, namely SNX original tokens and also synths. After printing the synth assets can be used in various cases such as investment, trading, and long-term money transfers.
bZx
Bzx is a protocol that is on the ethereum blockchain, engaged in lending and borrowing and margin trading. Margin trading is usually used in buying and selling shares where the funds to buy these shares come from loans that securities companies provide to investors. In bZx we can find several tokens, namely: iToken, pToken, and BZRX.
Uniswap
Uniswap is a protocol that is in the ethereum block system that allows buyers and sellers to exchange ERC20 tokens without using exchanges or orders, this protocol operates without charging platform fees or intermediary fees, this protocol only imposes gas costs on the ethereum network. Uniswap can be accessed on various platforms according to user needs, for example, InstaDapp, which is used to add liquidity without having to open the Uniswap site.
So thank you, hope it is useful......
Hi @nazlaaulia
Thanks for attending the 4th-week Crypto course and for your effort in doing the homework task.
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This is very good work. Very well explained. Keep it up!
Homework task Completed
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