Hello Steemian!!

We return again to the homework organized by one of the professors from Steemit CryptoAcademy @yohan2on, this time I will answer questions from the homework our professor gave us, as for the question is to briefly explain the following DeFi Dapps:

• Maker
• Compound
• Synthetix
• Uniswap
• bZx

1. Maker

Source

Initially MakerDAO launched a token called DAI which is a StebleCoin, the purpose of making this DAI is to create a coin whose value is as close as possible to the US dollar. DAI is created using a protocol that has been decentralized or what is often called Decentralized Finance. However, the target that had been set was not achieved so that the price of DAI was further away from the US dollar. Then MakerDAO decided to create another token called Maker, this token is a stablecoin token as well as DAI, but Maker uses fiat currency reserves. or gold so that it makes the market stable and can help stabilize the price of DAI.

2. Compound

Source

Compound is a project created on the ETH blockchain network. This compound allows its users to make loans and provide loans to other loan users on the condition that they have to keep collateral for some of their crypto assets in the protocol.

The same way as we save money in a conventional bank, to be able to get interest we have to save our money in that bank and it cannot be withdrawn at all, while at Compound we can withdraw our crypto assets at any time, because there is no third party holding our assets.

3. Synthetix

Source

Synthetix was created as a rotating stablecoin to meet the needs of DeFi users. Currently, this coin serves as one of the DeFi projects that offers trading in currencies, stocks and other assets. As we know, stock trading is still dominated by traditional financial centers, with strict regulations, and difficult to automate. The same is true for commodities such as gold and silver.

4. Uniswap

Source

Uniswap is a protocol created by Hayden Adams which operates as a means for its users to exchange a token called ERC20, and they can exchange it without having to use another intermediary. The fee charged as a transaction fee is the gas fee, due to operating on the ETH network.

The token exchange rate on this platform is based on a mathematical algorithm equation that will automatically calculate the balance between the two tokens and compare them. It is very different if we look at most other exchanges determining the exchange rate based on the sellers and buyers in the market.

5. bZx

Source

bZx is a project that aims to change people's views about Crypto Tokens which are always said to be only useful for gambling establishments. However, DeFi (Decentralized Finance) changed all these views by making bZx a place to prove that Crypto Tokens are not what they think.

bZx is a system that has collaborated with DeFi, this system is engaged in lending and borrowing and can also do margin trading. This is the same as the DeFi DApps called Compound which we explained earlier.

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Those are some of my explanations regarding DeFi DApps which are homeworked this week, I hope you can understand well what I have explained. That's all from me, apologize if there is something wrong in my explanation, if you find these deficiencies or errors you can comment in the comments column below.
See you guys on next post!!

STEEM ON!!!

CC:
@yohan2on
@steemitblog
@steemcurator01
@steemcurator02