What is DeFi? Decentralized Finance Explained

DeFi has had so much excitement around it in the last year. There's more than 100 billion dollars locked in different DeFi ecosystems. Infact, DeFi is one the main driving forces behind the recent popularity of Ethereum and many other blockchains.

Relevant links
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In this video, we will take a look at
👉 What is DeFi?
👉 Popular DeFi applications
👉 Compare Dapps to traditional finance
👉 Advantages of DeFi
👉 Risks of DeFi

Popular DeFi services
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⭐ Stable coins - Dai
⭐ Lending & borrowing - Compound
⭐ Decentralized Exchange (DEX) - UniSwap

Advantages of DeFi
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✅ Accessible
✅ Cost savings
✅ Transparent
✅ Interoperable

Risks of DeFi
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❌ Smart contract bugs
❌ Hacks
❌ Rugpulls
❌ Scalability issues

Timestamps 🕒
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00:00 Introduction
00:41 What is DeFi
01:27 Applications in CeFi
02:03 Applications in DeFi
03:00 Stable coins
04:38 Lending & Borrowing
05:49 Exchanges
08:09 Advantages of DeFi
09:50 Risks of DeFi
11:14 Finishing thoughts

#defi #decentralized #finance #blockchain #smartcontract #ethereum #binance #binancechain #bsc #eth #polygon #matic #tvl

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Awesome stuff. DeFi is the next big thing and could potential replace banks altogether.