Afghanistan
Albania
Algeria
Andorra
Anguilla
Antigua & Barbuda
Argentina
Armenia
Aruba
Australia
Austria
Azerbaijan
Bahamas
Bahrain
Bangladesh
Barbados
Belarus
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bonaire
Bosnia & Herzegovina
Botswana
Brazil
British Indian Ocean Ter
Brunei
Bulgaria
Burkina Faso
Burundi
Cambodia
Cameroon
Canada
Canary Islands
Cape Verde
Cayman Islands
Central African Republic
Chad
Channel Islands
Chile
China
Christmas Island
Cocos Island
Colombia
Comoros
Congo
Cook Islands
Costa Rica
Cote D Ivoire
Croatia
Cuba
Curacao
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
East Timor
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Ethiopia
Falkland Islands
Faroe Islands
Fiji
Finland
France
French Guiana
French Polynesia
French Southern Ter
Gabon
Gambia
Georgia
Germany
Ghana
Gibraltar
Greece
Greenland
Grenada
Guadeloupe
Guam
Guatemala
Guinea
Guyana
Haiti
Hawaii
Honduras
Hong Kong
Hungary
Iceland
India
Indonesia
Iran
Iraq
Ireland
Isle of Man
Israel
Italy
Jamaica
Japan
Jordan
Kazakhstan
Kenya
Kiribati
Korea North
Korea South
Kuwait
Kyrgyzstan
Laos
Latvia
Lebanon
Lesotho
Liberia
Libya
Liechtenstein
Lithuania
Luxembourg
Macau
Macedonia
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mexico
Midway Islands
Moldova
Monaco
Mongolia
Montserrat
Morocco
Mozambique
Myanmar
Nambia
Nauru
Nepal
Netherland Antilles
Netherlands (Holland, Europe)
Nevis
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
Niue
Norfolk Island
Norway
Oman
Pakistan
Palau Island
Palestine
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Pitcairn Island
Poland
Portugal
Puerto Rico
Qatar
Republic of Montenegro
Reunion
Romania
Russia
Rwanda
Saipan
Samoa
Samoa American
San Marino
Sao Tome & Principe
Saudi Arabia
Senegal
Serbia
Seychelles
Sierra Leone
Singapore
Slovakia
Slovenia
Solomon Islands
Somalia
South Africa
Spain
Sri Lanka
St Barthelemy
St Eustatius
St Helena
St Kitts-Nevis
St Lucia
St Maarten
St Pierre & Miquelon
St Vincent & Grenadines
Sudan
Suriname
Swaziland
Sweden
Switzerland
Syria
Tahiti
Taiwan
Tajikistan
Tanzania
Thailand
Togo
Tokelau
Tonga
Trinidad & Tobago
Tunisia
Turkey
Turkmenistan
Turks & Caicos Is
Tuvalu
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States of America
Uruguay
Uzbekistan
Vanuatu
Vatican City State
Venezuela
Vietnam
Virgin Islands (Brit)
Virgin Islands (USA)
Wake Island
Wallis & Futana Is
Yemen
Zaire
Zambia
Zimbabwe
Professor
Amadeo Brands
twitter
Website
LinkedIn
GitHub
DeFi Catalogs
DAPP Radar
StateOfTheDapps
Articles
Future of DAPPs
What's a DAPP? Hard to make?
Infographic
Overview
ETH is irreplaceable
iEarn DAPP
source code
on IPFS
iearn.finance
What's a DAAPs?
An application
On-Chain
Financial data
Mission critical data
Off-chain
User Interface
Non-critical data
Blockchain Explorers
Inspect code
Crypto.com
Inspect transactions
EtherScan.io
ethplorer
Bloxy
MetaMask
Like a browser
Chrome/Brave Extension
Metamask.io
But interacts w/ Ethereum
Also has a wallet
Low security. Store minimal funds.
Verify contract ID when asked in MetaMask
Once installed try playing around
dice2.win
Properties
Composable
Programable
Interoperable
De-Fi vs. Ce-Fi
Trust
Ce-Fi: company/ beurocracy
Emergent Structure
De-Fi vs. Ce-Fi
De-Fi: protocol.
2019 2020 Years of DeFi
De-Fi Pulse
De-Fi Telegram
Slides
Economic Engine
Functionality
Move
allocate
Transfer
Save
Borrowers
Lenders
Capital
Risk
Offset
Manage
Regulatory Protections
Individuals
Investors
Structure
DeFi
vs.
FinTech
Competitive Bureaucracy
Trust-Minimized Software
Trust-Based Software
Forced Bureaucracy
Origins of DeFi
Permissionless. Anyone can build
3rd world farmer has same access as a wall street broker.
Interoperable. Legos.
Turing complete. Anything can be built.
Maker DAI
Ethereum
Compound
Decentralized Stablecoins
Decentralized Exchanges
Decentralized Money Markets
Decentralized Synthetics
Decentralized Insurance
Decentralized apps
DeFi DAPP Dev Cycle
Create surface area
usefulness attracts ETH
ETH attracts investment
Investment funds further development
References
Evolution of DeFi
CoinBase Beginner's Guide to DeFi
Liquidity Robots
100 Top DAPPs
DeFi Risks
Requires specialized knowlege
Financial
Real return = nominal - inflation
Black Swan
Technical
Oracle
DeFi Rates
DeFi Score
Hacks
Bugs
Procedural
Governance
Flash Loans
Trustless Issuance & Settlement
Financial Lego
Financial Lego
Parts List
Financial Stack
DeFi Pulse List
DeFi Prime
Decentralized Exchanges
Summary
Uniswap
Kyber Network
DyDx
Loopring
Radarrelay
Slides
Decentralized Stablecoins
Overview
Why DAI?
Because trade w/ tradtional markets
USDT (Centralized)
USDC
DAI
Slides
Decentralized Money Markets
Key component of any financial market
Allow users to lend and borrow.
Provide liquidity
Uses liquidity pool model.
Oasis
Compound
Fulcrum
No credit scores in DeFI (yet)
Use over-Colateralized Debt Positions (CDP's)
Lock up 175% in CDP.
150% minimum colateralization
Bots will liquidate if collateral falls below 150%.
Incurrs small penalty if liquidated.
Decentralized Synthetics
Overview
CeFi: $1.2 Quadrillion market
Simulate other investment vehicles
Minted by colateralizing synthetic token.
Cash flow patterns
Risk Profiles
Maturity
etc.
Financially Engineered Products
Intro
Examples
UMA
Maker DAO
Synthetix
Derivatives
Benefits
Used for funding
Provide market access
Create liquidity
cryptographic security
Add transparency
Slides
AmpleForth Synthetics
Decentralized Insurance
Vs. financial and technical risk.
Opyn
Opyn Launch
free market between providers and clients.
Nexus
Buy tokens, spend to claim
Can stake vs. any smart contract
Convexity
Mutual
Human governance to pay out?
Needs KYC. Has legal.
Slides
Decentralized Stack
Recent Protocols
loanscan
Maker DAO Deep Dive
Slides
Maker DAO Fundamentals
Maker Dao
White Paper
Comments
Valuation
A stablecoin project
Pegged to the US Dollar
Backed by collateral in the form of crypto
Lending platform
Managed by a set of smart contracts
Allows Reduced interest rates
Better global liquidity
Decentralized Reserve Bank
Instead of banks
Related token MKR
Can vote on important decisions
Stability Fee
Fed's committies
TestNet
Oasis on Kovan (Test Net)
Dashboard
DAI Stats
Kovan Faucet (Test Net)
Using the Test Network
Building with Maker DAO
Using DIA savings Rate
Open a maker CDP
Park DIA in Compound
Mint some DIA
Inspiring?
Use the kovan Ethereum Network (test net)
Park DIA in Oasis
Park DIA in Chai
Continued Learning
Maintain DeFi Ecosystem Overview
Forum
Bonus
Zhuang from Singapore
Twitter
Shuttle One
Amadeo Brands
Twitter
LinkedIn
Reserve
De-Fi Recap
transparent
Permissionless
Open-source
To create
A Movement
Financial service
Ecosystem
Available to everyone
Users maintain full control over assets
Without any central authority
Interact through peer-to-peer
Decentralized Applications
DAPPs
Ce-Fi vs. De-Fi Recap
No intermediaries
De-Fi
Ce-Fi
Requires trusted centralized intermediaries
Faster processing and management
Batch clearing & settlement
Lower Fees, Reduced infrastructure cost
Higher Fees, Costly infrastructure
Maker Dao Smart Contracts
Ethereum Smart Contracts
For MKR holders
Administrative powers
Liquidates positions
Lock/unlocks collateral tokens
Issues DAI
Holding Peg
Market conditions
Any actor can vary the DAI supply via a Maker vault.
Supply Curve
Permissionless Credit factory on Ethereum
Confidence in DIA
Demand curve
Actors are incentivized to stablize peg.
DAI Vault
Repay DAI + fee
Retrieve collateral
Safe vault
Over-collateralized
Lock up crypto assets as collateral
Borrow DAI
Like a mortgage
Repay bank to release ownership.
Bank gives you a loan by locking up ownership.
Oasis
Liquidation
Automatic liquidation
Vault owner recieves leftover collateral
Decreases DAI supply
Auction procedes in DAI are burned.
Debt + penalty fee is auctioned off from collateral
If the collateral (in USD) falls too low.
As Savings
Save directly in DIA through Oasis
to the system
On deposits
Global and Open Interest Rate
Rate will be a risk premium above ETH staking base.
Maintainers
Determine the price peg of DAI
Oracles
Developers
Maintain protocol
Secret people
Keepers
Paid by Maker protocol directly
Hold oracle keys
Multi-sig
Time delay on changes
Users
Lock up liquidity to generate DAI
Vault Owners
DAI holders
Use DAI in transactions
Governors
Appointed by MKR holders
Risk Teams
MKR Holders
Stability fees
Add new collateral types
Risk parameters
Good governance increases MKR value
Bad governance dilutes MKR
Weekly open governance calls
Basis of polling/exec vote
Maker Protocol
DAI: to lend
MKR holders can vote out Keepers
Open Finance
Humanitarian Aids
Trustless
Equality
Unbiased
Financial Inclusion
Remittance
Stable Currency
Access to loans
Vanuatu
Decentralized apps and DeFi
Loans
Leverage
Trading
Chai
Business Applications
Liquidity Options
Trade Finance
Payments
Next Layer Businesses
Invoice
Tokenizig invoices and short-term recievables as collateral.
Tokenizing mortgages as collateral
Real Estate Finance
Royalty Payments
Commodities
Tracking recievables
Seems to require an LLC to retain ownership rights
Tokenize contractural rights to royalty payments
Toeknize commodities as collateral
Vaults to finance smaller partners
Lend based on synthetic royalties
MKR Burn Rate
Function of DAI performance
Time
Stability Fee
DIA Market Cap
Reduces MKR supply curve.
Divided by MKR price in DAI
Compound
Deposit digital assets for c-version token.
Deposits earn interest just like DAI
cDAI
cSAI
cUSDC
cWBTC
Compound takes more token flavors
cBAT
cZRX
cREP
cETH
exchange rate calculated from supply
Compound also keeps a reserve.
Can do Compound over EtherScan
WhitePaper
Is a money market
compostable
Curve
Deposits onto Compound
Insurable.
Rebalances deposits among c-tokens
@Andre Cronje
For thought:
Challenge:
1000x leverage trade
Using:
Interest-earning
No fee
No collateral
On-Chain
@iearnfinance
@dydxprotocol
@AaveAave
@CurveFinance
DAI Giveaway
Drawing 4/18/20
Complete 100% of the course
$100 in DAI
Post Screen Shot here
Get some faucet tokens
On Kovan
Run this.
The State of DeFi circa April 2020
Maker DAO vs. Blaq Thursday
Blaq Thursday 3/12/2020
Lets take a look on chain data
What's happening in DeFi
The DeFi Ecosystem
Theme Song
Review
Slides
A Revolt
DeFi Is
Fintech is
References
> CeFi...
STACKED
Settlement layer is on-chain.
Setlement layer is a bureauucrat.
Trust through Bureaucracy
Trust through cryptographic immutability
Permissionless
Financial Automation
Ditch Middlemen.
Transparent
Trustless
The New Global System
Walled Garden
Dystopia Labs DeFi Discussions
2 Why is DeFi Important?
9 The Internet of Finance
14 DeFi Zap's
20 Attack Matrix & Security
21 DeFi Options
24 DeFi Trading Bots on Melon
25 DAI Whale Hunting
26 Key Management
28 SEC on DeFi
29 Digital Dollar
35 0X Consuming Liquidity
36 dYdX Trading
40 1-Inch Exchange
41 UMA & Balancer
45 Optimistic Virtual Machine
46 Uniswap V2
48 We Get Pwn'd Everyday Fi
47 The Future of Stablecoins
50 Prize-Linked Saving on Ethereum
65 From Goldman Trading Floor To DeFi
107 PayDrop Decentralized Workforce
References
ETH Virtual Events List
Level Up
Hit the Warp Gate.
Real-World Assets in DeFi
Blockchain-Based Financial Markets
Over-Collateralized Loans
Flash Loans
Be the Hedge Fund
On-Chain Data
Black Thursday
There are a few whales that are ruling DeFi right now
SAI -> DAI
Living Financial Organism
References
Slides
Data is King
Will harden the system vs. shocks.
References
Bank FOMO into ETH
Ecosystem visualization
SAI Shutdown
2020 Report
CryptoCreditReport
Blaq Thursday 3/12/2020
Price drop liquidated long positions.
Oracles Stalled
Automated Tx's couldn't post.
GAS prices spiked
References
Slides
Market couldn't balance itself.
DeFi 101
DeFi 201
References
Oops.
The Day the Crypto Market Structure Broke 2
Q1 Lending Report
The Drop.
Options Market
Liquidity.
The Day Crypto Market Structure Broke 1
Compount Risk Assessment
Security Matrix
Handle w/ Care
Blaq Thursday
ETH won for zero bid w/ high gas fee.
Exchanges ran low on liquidity
Vault Opener stalled on high GAS prices
Liquidation
Keeper Bots ran out of liquidity.
Perfect Storm
References
Maker Improvement Proposals (MIPs)
Protocol
Article
Docs
Atomica
House of Cards
Remain Kalm.
Stats
Liquidation Process Steps
A DAI vault is automatically liquidated
Goal is to keep the system solvant.
Vault owner recieves any remains.
DAI is burned by protocol to decrease supply.
Collateral auctioned to cover debt + penalty fee
$USD Value falls too low.
Maker DAO New Deal
1,200 Maker vaults liquidated to limbo.
Sold 20k MKR to cover 5.3M DIA shortage.
Adding USDC as a collateral type for more liquidity
1. MKR Holders extend auction bidding duration.
Maker DAO vs. Blaq Thursday
Faster, Better, Stronger
Anti-Fragile
DeFi Community Response
WTF Just Happened?
Fix it!
References
Slides
Community Response
DeFi Backstop Syndicate
Everest
Token Curated Registries
Community-Funded Keeperbot
Anti-Fragility
Vs. Goldman Sachs
Proposed Solutions
Prime Brokers
Clearing Houses
ZK Rollups
Side Chains
Tech Upgrades
RFQs for large liquidations
Discussion
Explore DeFI
Find new projects
Read this article
Cotribute to Everest
Deeper Down the Rabbit Hole
The Protocol Sink
The DeFi Stack
Settlement Assurances
References
CoDeFi
Foundations.
The Great Filter
Basic Guide
Business Models
Fabian Schar
Lex Sokolin
3 Lingos
CeFi Hookups
The Stack
Slides
References
The Protocol Stack
Settlement Assurances