FAM Talks w Andy Page: Defi (Decentralized Finance) 101
Defi is an important corner of the Crypto-verse.
ZERO prior crypto knowledge is required for this!
Decentralized Finance (aka Defi): is a movement that allows individuals to utilize financial services such as borrowing, lending, and trading without the need for a centralized entity (no Bank of America or Chase).
🏦 Defi helps individuals become their own bank. 🏦
The financial services are provided via Decentralized Applications (Dapps)...a lot of them are deployed on the Ethereum blockchain but there is an increasing number of other blockchains with Dapps (Polygon, Binance Smart Chain, Avalanche, Fantom, etc).
All come with their own pro's and con's.
DeFi is not a single Dapp...there is a whole ecosystem of Dapps that allow users access to banking, insurance, bonds, money markets, etc.
Because of their decentralized nature, people can enter and leave as many or as few Dapps as they please...they're often called money Legos.
During this chat, I'll go over the following:
- Very basics of Defi
- How to get started
- Using popular dapps: Aave, Curve, Balancer, and Quickswap
Cameras on required!