Diving into DeFi by randulakoralage

View this thread on steempeak.com
hive-133716 · @randulakoralage ·
$1.23
Diving into DeFi
<div class="text-justify">

![image.png](https://cdn.steemitimages.com/DQmWLn9A7P7Tti8466ZRabWxV1NQwFsFbfeetrZvfX9q5jw/image.png)

I am someone getting advantages from #steemcryptochallenge to learning crypto. I did some basic research about what is DeFi and DeFi platforms in order to write for the week two challenges. I would like to share the things I understood and learned so far.

<h3>Background: Traditional Finance</h3>If we start from traditional finance, it is the activities incorporate with banking, credit, debit, money, and investments. It is not a secret that traditional finance systems have a number of pain points for users. Taking numerous transaction fees, hundreds of paperwork and hidden activities even the risk of failure can occur in any traditional bank or finance company. 

Here comes the concept of decentralized finance. The financial services are no more centralized and provided via decentralized applications. 

<h3>What’s DeFi in your mind and have you ever bought any DeFi tokens?</h3>DeFi goes beyond the limitations of traditional banking. It overcomes the limits of age, accessibility, geography, income, and time. It based on smart contracts and codes treat equality for everyone. It is famous DeFi tokens are having a high market cap nowadays. So we have purchased LINK, BAND, and COTI. Currently holding LINK tokens. 
<center>
![photo_2020-10-05_16-01-36.jpg](https://cdn.steemitimages.com/300x500/https://cdn.steemitimages.com/DQma8L5VoRmLZW34jNEnzooN7oSMBqqZKewZ7x2PEd5jr5E/photo_2020-10-05_16-01-36.jpg)
</center>
<h3>What makes you excited about DeFi?</h3>  As I already said, I am still learning about DeFi. I started with the facts I knew already, the many DeFi platforms based on the ERC20 network, which always bond with word Gas fee :) But with recent pleasant experiences we had with TRC-20, I read more about JUST as a DeFi protocol. 

![image.png](https://cdn.steemitimages.com/DQmeZiRejES1t9LSkh8Et8BKvz62xGCxtAoBLwtxdAMaeDh/image.png)
<sub><a href="https://just.network/">Web Site</a></sub>
<b>Stablecoins :</b> Stablecoin is an important part of DeFi. It is important to address the volatility of crypto to establish reliable source of exchange. Just Lend feature allow us to store PTRX and lend some USDJ stable coin to get rid by affect of volatility.   

<b>JustSwap:</b> It is a tron based decentralized exchange that allows users to become liquidity providers. They are provided trading fee back with zero commissions. 

<h3>Which project do you think is the best DeFi application？Why?</h3>

![image.png](https://cdn.steemitimages.com/DQmbq7UEgBx7XeKwUK7Ek9Vg1B43xMMhP4bqsybQiJK7rnW/image.png)
<sub><a href="https://dappradar.com/rankings/category/defi">dappradar.com - Top Decentralized Finance Apps</a></sub>

If you carefully search there are hundreds of DeFI applications can be found.  This list contains considerable number of DeFi platforms. <a href="https://defipulse.com/defi-list"> DeFi Puls List</a> Following are the major DeFi applications.
* Lending and Borrowing (ex: Just, Compound, Aave)
* Yield Farming (ex: Sun, Compound)
* Stablecoins (ex: DAI, USDC, USDJ )
* Wallets
* Trading (ex: tokensets)
* Decentralized Exchanges (ex: justswap, uniswap)
* Lottery (ex: pooltogether)

Yield Farming, trading and stablecoin applications took my attention. First in yield farming we can return additional rewards for our liquid tokens.

<h3>Are you feeling positive or negative about the future of DeFi?</h3> I am feeling positive because already DeFi has become a large impact in the crypto world. There can be risks always which is normal. This DeFi system is It can be attracted by hackers since these are the digital systems..And also due to several market conditions, the prices are going up& down always. 

According to my idea, DeFi is still new to this digital system and But anyone who has a little idea about DeFi platforms should understand DeFi has a huge potential and It will be a very successful system in near future.
![HR.png](https://cdn.steemitimages.com/DQmV8vr8iGsHELsjX4F4L6vm9zBh5XV1XUnMm93emCSHCrb/HR.png)

cc: @steemcurator01 
@steemcurator02

As reply for <a href="https://steemit.com/steemcryptochallenge/@steemitblog/steem-crypto-challenge-month-2-diving-into-defi">Steem Crypto Challenge Month #2 : Diving into DeFi</a>

</div>
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
properties (23)
post_id87,852,460
authorrandulakoralage
permlinkdiving-into-defi
categoryhive-133716
json_metadata{"tags":["steemcryptochallenge","srilanka"],"users":["steemcurator01","steemcurator02"],"image":["https:\/\/cdn.steemitimages.com\/DQmWLn9A7P7Tti8466ZRabWxV1NQwFsFbfeetrZvfX9q5jw\/image.png","https:\/\/cdn.steemitimages.com\/300x500\/https:\/\/cdn.steemitimages.com\/DQma8L5VoRmLZW34jNEnzooN7oSMBqqZKewZ7x2PEd5jr5E\/photo_2020-10-05_16-01-36.jpg","https:\/\/cdn.steemitimages.com\/DQmeZiRejES1t9LSkh8Et8BKvz62xGCxtAoBLwtxdAMaeDh\/image.png","https:\/\/cdn.steemitimages.com\/DQmbq7UEgBx7XeKwUK7Ek9Vg1B43xMMhP4bqsybQiJK7rnW\/image.png","https:\/\/cdn.steemitimages.com\/DQmV8vr8iGsHELsjX4F4L6vm9zBh5XV1XUnMm93emCSHCrb\/HR.png"],"links":["https:\/\/just.network\/","https:\/\/dappradar.com\/rankings\/category\/defi","https:\/\/defipulse.com\/defi-list","https:\/\/steemit.com\/steemcryptochallenge\/@steemitblog\/steem-crypto-challenge-month-2-diving-into-defi"],"app":"steemit\/0.2","format":"markdown"}
created2020-10-05 10:44:36
last_update2020-10-05 10:44:36
depth0
children7
net_rshares4,468,763,365,869
last_payout2020-10-12 10:44:36
cashout_time1969-12-31 23:59:59
total_payout_value0.620 SBD
curator_payout_value0.611 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length4,325
author_reputation842,472,154,758,125
root_title"Diving into DeFi"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (36)
@randulakoralage ·
$0.98
<a href="https://twitter.com/RandulaKoralage/status/1313072323017277440"> Shared in Twitter</a>
![image.png](https://cdn.steemitimages.com/DQmbeoQiq1ToRq8p7FL8SRSi54wyXH3m9A8ttpP6wk5SDWE/image.png)
👍  
properties (23)
post_id87,852,628
authorrandulakoralage
permlinkqhq6rn
categoryhive-133716
json_metadata{"image":["https:\/\/cdn.steemitimages.com\/DQmbeoQiq1ToRq8p7FL8SRSi54wyXH3m9A8ttpP6wk5SDWE\/image.png"],"links":["https:\/\/twitter.com\/RandulaKoralage\/status\/1313072323017277440"],"app":"steemit\/0.2"}
created2020-10-05 11:04:39
last_update2020-10-05 11:04:39
depth1
children0
net_rshares3,637,780,338,053
last_payout2020-10-12 11:04:39
cashout_time1969-12-31 23:59:59
total_payout_value0.488 SBD
curator_payout_value0.488 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length197
author_reputation842,472,154,758,125
root_title"Diving into DeFi"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (1)
@sapwood ·
$2.20
Value in "time", value in "store", value in "transaction", value in "pool", value in "stake", etc all of these have been made possible through Blockchain technology and DeFi.

DeFi is making the crypto ecosystem more liquid and the concentration of more than 8 billion USD worth coins in DeFi is a testimony to that. 

Steem on.

#twopercent #india #affable
👍  
properties (23)
post_id87,853,538
authorsapwood
permlinkqhqb1v
categoryhive-133716
json_metadata{"tags":["twopercent","india","affable"],"app":"steemit\/0.2"}
created2020-10-05 12:37:09
last_update2020-10-05 12:37:09
depth1
children0
net_rshares7,274,587,739,114
last_payout2020-10-12 12:37:09
cashout_time1969-12-31 23:59:59
total_payout_value1.101 SBD
curator_payout_value1.102 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length357
author_reputation444,403,814,260,033
root_title"Diving into DeFi"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (1)
@sahilgupta · (edited)
Thank you for sharing your views on DeFi. DeFi is new to me, so I came here to read your article and this gave me an idea and understanding about DeFi.


#twopercent #india #affable
properties (22)
post_id87,854,847
authorsahilgupta
permlinkqhqfmq
categoryhive-133716
json_metadata{"tags":["twopercent","india","affable"],"app":"steemit\/0.2"}
created2020-10-05 14:16:03
last_update2020-10-05 14:16:21
depth1
children1
net_rshares0
last_payout2020-10-12 14:16:03
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length181
author_reputation27,401,717,068,091
root_title"Diving into DeFi"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@randulakoralage · 
I also learning. 😀 I think this program so usefull to me to learn. Otherwise may be I won't focus on these areas. Luckily I had a holiday so I spent whole day to read and understand DeFi and some applications. Good luck with your article

#twopercent #srilanka #affable
properties (22)
post_id87,854,885
authorrandulakoralage
permlinkqhqft9
categoryhive-133716
json_metadata{"tags":["twopercent","srilanka","affable"],"app":"steemit\/0.2"}
created2020-10-05 14:20:03
last_update2020-10-05 14:20:03
depth2
children0
net_rshares0
last_payout2020-10-12 14:20:03
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length269
author_reputation842,472,154,758,125
root_title"Diving into DeFi"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@ahlawat · 
Every day a new coyon is coming.
properties (22)
post_id87,856,315
authorahlawat
permlinkqhqltt
categoryhive-133716
json_metadata{"app":"steemit\/0.2"}
created2020-10-05 16:29:57
last_update2020-10-05 16:29:57
depth1
children0
net_rshares0
last_payout2020-10-12 16:29:57
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length32
author_reputation508,940,095,151,809
root_title"Diving into DeFi"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@rex-sumon · 
I'm gaining ideas about defi.  I can learn a lot from your post.  I think people will move more towards defi technology than the current banking system.  What do you think?
#onepercent #bangladesh
properties (22)
post_id87,861,501
authorrex-sumon
permlinkqhr6bu
categoryhive-133716
json_metadata{"tags":["onepercent","bangladesh"],"app":"steemit\/0.2"}
created2020-10-05 23:52:45
last_update2020-10-05 23:52:45
depth1
children0
net_rshares0
last_payout2020-10-12 23:52:45
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length196
author_reputation2,148,929,769,227,045
root_title"Diving into DeFi"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@ecosynthesizer · 
Hi,

Your post has been voted on by the [Ecosynthesizer](https://steemit.com/@ecosynthesizer) curation team.

Thank you for your contribution to the Steem ecosystem.

---
<sup>If you would like to support us, please consider voting for our [witness](https://steemlogin.com/sign/account-witness-vote?witness=symbionts&approve=true), setting us as a [proxy](https://steemlogin.com/sign/account-witness-proxy?proxy=symbionts&approve=1),
 joining our [Discord](https://discord.gg/taRY2vp) server, and delegating to the project by using one of the following links:
[500SP](https://steemlogin.com/sign/delegateVestingShares?delegatee=ecosynthesizer&vesting_shares=500%20SP) | [1000SP](https://steemlogin.com/sign/delegateVestingShares?delegatee=ecosynthesizer&vesting_shares=1000%20SP) | [2000SP](https://steemlogin.com/sign/delegateVestingShares?delegatee=ecosynthesizer&vesting_shares=2000%20SP) | [3000SP](https://steemlogin.com/sign/delegateVestingShares?delegatee=ecosynthesizer&vesting_shares=3000%20SP) | [4000SP](https://steemlogin.com/sign/delegateVestingShares?delegatee=ecosynthesizer&vesting_shares=4000%20SP) | [5000SP](https://steemlogin.com/sign/delegateVestingShares?delegatee=ecosynthesizer&vesting_shares=5000%20SP) | [10000SP](https://steemlogin.com/sign/delegateVestingShares?delegatee=ecosynthesizer&vesting_shares=10000%20SP) | [100000SP](https://steemlogin.com/sign/delegateVestingShares?delegatee=ecosynthesizer&vesting_shares=100000%20SP)</sup>
👍  
👎  , ,
properties (23)
post_id87,869,698
authorecosynthesizer
permlinkre-diving-into-defi-20201006t142147z
categoryhive-133716
json_metadata{"app":"beem\/0.24.5"}
created2020-10-06 14:21:48
last_update2020-10-06 14:21:48
depth1
children0
net_rshares-2,070,584,954,713
last_payout2020-10-13 14:21:48
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length1,463
author_reputation-50,375,830,871,208
root_title"Diving into DeFi"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (4)
Help/Feedback