What is DeFi? Decentralized Finance Explained

[VoskCoin]

What is DeFi and how Decentralized Finance has become the catalyst for the 2020 cryptocurrency bullrun! Let's review DeFi and explain what makes it so interesting, valuable, and how to make money with DeFi!
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https://www.youtube.com/watch?v=LreOfkISy0w


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Decentralized Finance, DeFi, the much catchier way to say Open Finance which is basically.. financial DApps or decentralized applications -- things built on a cryptocurrency blockchain that allow anyone, anywhere, to access them. Ethereum and their solidity coding language allows for these DApps and smart contracts to be built and deployed on Ethereums network, or decentralized blockchain! The majority of DeFi takes place on Ethereum, but Binance and their Binance Smart Chain BSC as well as Tron are trying to compete with Ethereum for a share of the DeFi success. Decentralized exchanges, Dexes, lending and borrowing protocols, and many other features are being built around Decentralized Finance. Hopefully this video review of What Is DeFi EXPLAINED -- Will, well, hopefully, explain what is DeFi to you! DeFi is an incredible opportunity to earn passive income with cryptocurrency through the use of yield farming, being a liquidity provider and liquidity mining, and just taking part in an emerging financial ecosystem. Please understand that DeFi is super exciting, but it is high risk and high reward.

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[VoskCoin]

From my point of view DeFi is when you manage your finances by yourself. Uniswap already became some kind of a bank for people..they borrow, lend, trade etc there. But Uniswap days are counted now. Long live new $KING - https://www.kingswap.io/
New liquidity pool with debit card support and fully transparent team. APY is already going up !
Yield farming is outdated but NFT farming is up to date for sure. Buy any KING NFT from Open Sea and start receiving your $KING tokens for simple NFT storing. Easy as that ! APY is already higher then most of pools on

yield farming is certainly not already outdated lol, nice try m8

[DU18]

DeFi (Decentralized Finance) is an application that uses a smart contract, which runs like the Ethereum blockchain, to get loans in the form of cryptocurrency assets and as collateral for cryptocurrency assets. For example, you can pledge Ether (ETH) to get a loan in the form of stable coins that are worth dollars, but most importantly DeFi is a system that aims to provide open financial services, without permission, transparent and available to everyone without any centralized authority but with the existence of a decentralized system or dapps, users still have full control of their assets despite open access. By the public, of course with the current DeFi system it allows us to have more convenience in making every transaction, and also investing in cryptocurrency.

[drlukacs]

DeFi (Decentralized Finance) is an application that uses a smart contract, which runs like the Ethereum blockchain, to get loans in the form of cryptocurrency assets and as collateral for cryptocurrency assets. For example, you can pledge Ether (ETH) to get a loan in the form of stable coins that are worth dollars, but most importantly DeFi is a system that aims to provide open financial services, without permission, transparent and available to everyone without any centralized authority but with the existence of a decentralized system or dapps, users still have full control of their assets despite open access. By the public, of course with the current DeFi system it allows us to have more convenience in making every transaction, and also investing in cryptocurrency.

Although Defi's strongest point is a decentralized loan service, which makes cash flow more reasonable and better; However, the sad fact was that the investor did not use Defi's service and even thought of dumping the token.
Regarding using the service, nobody seems to want to borrow on this platform. Investor / investor thinking has made the Defi projects a commodity for short-term speculation.
-> The crowd has metamorphosed the Defi platform, so when speculating on Defi projects, you need to have a thorough analysis.

[turbo_trader0101]

From my point of view DeFi is when you manage your finances by yourself. Uniswap already became some kind of a bank for people..they borrow, lend, trade etc there. But Uniswap days are counted now. Long live new $KING - https://www.kingswap.io/
New liquidity pool with debit card support and fully transparent team. APY is already going up !
Yield farming is outdated but NFT farming is up to date for sure. Buy any KING NFT from Open Sea and start receiving your $KING tokens for simple NFT storing. Easy as that ! APY is already higher then most of pools on

yield farming is certainly not already outdated lol, nice try m8

Not massively out dated but lets face it - it is not as hot as it was several months ago. NFT is stealing the show now and NFT farming is potential massive hype due it its simplicity.
So that https://www.kingswap.io/ can have the first mover advantage

[thenextking]

What is DeFi? Defi is a form of online gambling.

[Stedsm]

Yield farming will soon go worthless tbh, mark my words.
That's because the supply gets up hyperinflated too quick against the USDT that's parked towards staking in order to get rewards. Just tell me why all the DeFi tokens which took off from the grounds didn't even stand high there in order to show their strength? Where did the money go? Wiped out? If yes, why? Because people only look for profits which is why even the most shit DeFi tokens which had nothing to do with that pumped up ^DeFi beast YFI^, were all pumped up to prices they didn't deserve at all.

[Twinkledoe]

Yield farming will soon go worthless tbh, mark my words.
That's because the supply gets up hyperinflated too quick against the USDT that's parked towards staking in order to get rewards. Just tell me why all the DeFi tokens which took off from the grounds didn't even stand high there in order to show their strength? Where did the money go? Wiped out? If yes, why? Because people only look for profits which is why even the most shit DeFi tokens which had nothing to do with that pumped up ^DeFi beast YFI^, were all pumped up to prices they didn't deserve at all.

What I am seeing here in most yield farming defi tokens, is that they are farming or staking for nothing. And then what? Who will buy afterwards if there's no use case?  So will not be surprised if they will go down the drain. It is just hype and pump and dump. Hope buyers will be more smart on this kind of investment. They will lose in the long run.

[Stedsm]

What I am seeing here in most yield farming defi tokens, is that they are farming or staking for nothing. And then what? Who will buy afterwards if there's no use case?  So will not be surprised if they will go down the drain. It is just hype and pump and dump. Hope buyers will be more smart on this kind of investment. They will lose in the long run.

Exactly, lemme bring you a recent example of one of the DeFi shit  tokens my friend invested in: FLM

It was launched at Binance and people were staking it but not getting enough returns through the same as the volume of staking was so big. Now, my friend didn't stake but rather bought, and bought higher at around 10k satoshis as he thought the project was worth investing just because - 1) It's a DeFi project and 2) It was launched at Binance. I asked him to wait but he didn't gave a damn about it and just bought it and you can see what happened to it in just 2 days. Someone from their moderation told him why did he even buy when he didn't understand the mechanism. I believe that you should do well research about anything you invest into, else you may be in some serious trouble with your investment.

[leea-1334]

What is DeFi? Defi is a form of online gambling.

why do you have such an assumption? Should you explain why Defi is called a form of online gambling, what are the arguments, where do you get the source? Don't just take it for granted, because speaking without credible arguments, you'll be laughed at. Review the definition of Defi, its objectives, uses, and its strengths and weaknesses.

I guess you are talking from a HEX perspective, since that is the signature campaign you are using now. Did you get any HEX yourself or did you take it all from your Bitcoin holding claims?

But let us be honest and see how many defi people were in their investments long term? Or how projects even lasted long. Many died in days and weeks. Seems like a gamble to me.

[emmybd]

DeFi is short for Decentralized finance. DeFi refers to the digital assets and financial smart contracts, protocols, and decentralized applications built on Ethereum. DeFi also called open finance. DeFi is alternative to all other financial services.
DeFi is paving new paths in banking. It's a interdependent financial system. DeFi means equal opportunities for all people with internet access. DeFi is very popular cause each DeFi user has control over their resources. DeFi users can trade and invest easily.
But it is not completely risk free. DeFi products are far riskier and have a much higher chance of breaking.
There is a possibility of coding risk in DeFi. DeFi is simply a suite of software, created by lines of code, that supports a host of financial services. It is possible to make mistakes in coding and that can provide malicious parties with an attack vector through which they can steal funds. There is a high possibility of financial risk in DeFi. There is also a possibility of regularity risk.
DeFi brings in decentralized exchanges to make sure that there is no centralized point-of-failures within the ecosystem. Centralized organizations manage the majority of the cryptocurrencies. DeFi has some risk but by avoiding those risks DeFi will be able to keep safe our assets.

[turbo_trader0101]

From my point of view DeFi is when you manage your finances by yourself. Uniswap already became some kind of a bank for people..they borrow, lend, trade etc there. But Uniswap days are counted now. Long live new $KING - https://www.kingswap.io/
New liquidity pool with debit card support and fully transparent team. APY is already going up !
Yield farming is outdated but NFT farming is up to date for sure. Buy any KING NFT from Open Sea and start receiving your $KING tokens for simple NFT storing. Easy as that ! APY is already higher then most of pools on

[Elite70]

From my point of view DeFi is when you manage your finances by yourself. Uniswap already became some kind of a bank for people..they borrow, lend, trade etc there. But Uniswap days are counted now. Long live new $KING - https://www.kingswap.io/
New liquidity pool with debit card support and fully transparent team. APY is already going up !
Yield farming is outdated but NFT farming is up to date for sure. Buy any KING NFT from Open Sea and start receiving your $KING tokens for simple NFT storing. Easy as that ! APY is already higher then most of pools on

yield farming is certainly not already outdated lol, nice try m8

Not massively out dated but lets face it - it is not as hot as it was several months ago. NFT is stealing the show now and NFT farming is potential massive hype due it its simplicity.
So that https://www.kingswap.io/ can have the first mover advantage

Yes I can agree with you on this that more people are now farming NFTs. I also earning rare NFTs while farming XGT/xDAI on xdai chain and Honeyswap. Check this out.

  Xion.finance/farm

https://info.honeyswap.org/pair/0xB2B15DaE735e52CA0902824570Bd2458d78672f8    

[Arkann]

I see that a lot has already been said about what DeFi is and how cryptocurrency users relate to these projects. But it seems to me that you can simply explain their essence and their importance in the cryptocurrency market. In fact, for example, Bitcoin and Ethereum are the same decentralized finance, since they have the main advantage: independence.