Decentralized Finance
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This deep dive introduces you to the anarcho-capitalist world of decentralized finance (DeFi) that is currently being built within the Ethereum system. This is a world in which anyone can print dollars (DAI), anyone can list any currency or security for public trading (uniswap), in which savers can still earn positive interest rates (compound.finance), and in which billions are locked up in «Yield Farming» constructs with cute emojis as ticker symbols. Decentralized finance thrives on good ideas being copied and refined, letting systems worth hundreds of millions emerge and collapse in a matter of days. Enjoy my curated menu of insightful articles on the topic.
- Maker for Dummies: A Plain English Explanation of the Dai… and 4 other articles
- Average reading time: 5 minutes
- Topics covered: decentralization, crypto, makers, coding, stablecoin
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As a starter, we will have a look at DAI, a cryptocurrency that is pegged to the dollar. This peg is achieved with a clever, decentralized mechanism. Anyone can print DAI, but only if they provide collateral. DAI is one of the main building blocks of DeFi.