
How to DeFi: Beginner

TokenSets is a platform that allows crypto users to buy Strategy Enabled Tokens (SET). These tokens have automated asset management strategies that will enable you to easily manage your cryptocurrency portfolio without executing the trading strategy manually. With an automated trading strategy, you will not need to monitor the market 24/7 manually,
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Do I need to register for an account to start using Compound? No, you do not need to register for an account, and that’s the beauty of Decentralized Finance applications! Unlike traditional financial applications where users must go through lengthy processes to get started, Compound users do not need to register for anything. Anyone with a supporte
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Nexus Mutual is a decentralized insurance protocol built on Ethereum that offers cover for smart contracts on the Ethereum blockchain and custody cover for centralized lenders and exchanges such as Celsius, Blockfi, Nexo, Binance, Coinbase, Kraken, and Gemini. As of December 2020, Nexus Mutual provides cover for 64 smart contract protocols.
Sze Jin Teh • How to DeFi: Beginner
Metamask also has an in-built token swap feature, which allows you to exchange other tokens directly from the wallet.
Sze Jin Teh • How to DeFi: Beginner
The idea behind the creation of Synths is similar to the creation of DAI on Maker. You first have to stake ETH as collateral on Maker’s smart contract before being allowed to create DAI based on the collateral posted. For Synths, you first need to stake the Synthetix Network Token (SNX), which acts as the collateral backing the entire system. SNX i
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Who uses Aragon? Prominent DeFi projects such as Aave and Curve use Aragon. As of September 2020, more than 1,600 DAOs have been created with $350 million stored in Aragon.
Sze Jin Teh • How to DeFi: Beginner
An example of an Inverse Synthetic Asset is Inverse Bitcoin (iBTC) which tracks the inverse price performance of Bitcoin. There are three key values related to each Inverse Synths - the entry price, lower limit, and upper limit.
Sze Jin Teh • How to DeFi: Beginner
DeFi protocols organize themselves as Decentralized Autonomous Organizations (DAOs), organizations governed by smart contracts on the blockchain. DAOs allow groups of people to cooperate without centralized management and coordinate around a shared set of rules to achieve a common mission.
Sze Jin Teh • How to DeFi: Beginner
Why would you want to lock up a higher value of collateral such as ETH only to issue DAI with a lower value? You could have sold your assets directly to USD instead. There are three possible cases: You need cash now and you have an asset that you believe will be worth more in the future. ● In this case, you could hold your asset in the Maker vault
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