Author Topic: What is DeFi?  (Read 202 times)

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What is DeFi?
« on: June 06, 2021, 07:49:50 AM »

The promise of cryptocurrencies is to make money and payments universally and democratically accessible to everyone, wherever you are in the world.

🚩The Decentralized Finance (DeFi) or Open Finance movement aims to take this promise one step further. So, imagine a global and open infrastructure where all the traditional financial services you use today (deposits, loans, trade, insurance and much more) are accessible worldwide by anyone with a smartphone and internet connection.

🚩Common Uses of DeFi
stable cryptocurrencies
The prices of cryptocurrencies can jump as big as 10% daily, to prevent this volatility, stable cryptocurrencies based on nominal assets have emerged. Overall, stable cryptocurrencies provide a volatility-free cryptocurrency, making DeFi protocols and DAPPs more accessible.

🚩Decentralized borrowing and lending
No matter how good our financial situation is in our daily life, getting a loan is always a tiring process and is full of documents we signed without reading pages. Decentralized debt exchange has provided users with their own assets and cryptocurrencies as collateral, making debt exchange fit in our phone within minutes.

🚩Most Popular DeFi Apps
DeFi  protocols are like our apps on our phones, except that they each interact with the blockchain in a different way.

Makerdao , built on Ethereum blokzincir, crypto  currency  coupled with the guarantees is not a platform merkeziyetsiz debt. This platform,  intelligent contractual  price of 1  dollar  fixed D are  stable  to the crypto borrowing money  allows.

In order to keep the stable cryptocurrency DAI value at 1 USD, MKR (MakerDAO management token) is produced or removed from the system according to the supply. While the MKR cryptocurrency is used for systemic functions such as transaction fees and voting in the system, the cryptocurrency we receive as users is a DAI token with stable value.