✊The Defiant's Definitive Guide to DeFi
At The Defiant, we are convinced finance will become increasingly decentralized and open. It just makes sense; our current financial system is running on infrastructure that was built in the 1970s; messaging networks like SWIFT and ACH that simply aren’t made to transact value.
Blockchains have value at their core. They are money networks, and as such, they make for more efficient financial systems. They cut out intermediaries, improving speed and cost. They are permissionless and global, so that essential tools to grow savings and make payments and transfers, are at the hands of anyone with an internet connection, anywhere in the world.
A financial system that’s running on distributed networks and powered by cryptocurrencies allows users to maintain control over their assets and information. For the first time ever, any individual can own a piece of the networks and applications they use. They can participate in these protocols’ governance and benefit from their growth. It’s a new paradigm for the internet and for money.
We are witnessing the birth of the internet of money. It’s here, growing and maturing. You can use it right now.
The Defiant is the leading information company at this intersection of tech and money. It’s the only content platform producing unbiased, objective journalism, that’s focused on decentralized finance. We cover the news in this space day to day, across our newsletter, podcast, YouTube channel, and website.
For those who are new to this ecosystem (and even for those who have been around for longer), the flood of new terms, apps, and concepts can feel overwhelming.
This guide is meant to be a one-stop-shop to get started. These are all the DeFi basics you will need to start exploring the internet of money.
🤝 Share this guide with your friends, family, colleagues —anyone who you think would benefit from learning about the future of finance and how to start taking control of their assets.
Here are the first two articles you need to read as you get started on your DeFi journey.
What is Decentralized Finance
Definition: Decentralized finance, or DeFi, is the ecosystem of financial applications being built with blockchain technology and without banks.
Characteristics:
Non-Custodial
Open
Transparent
Decentralized
History:
Origins of the term
Bitcoin and MakerDAO
👉 Read the full post here
Getting Started With DeFi
In this guide we’ll be helping you take your first steps into the boundless world of Decentralized Finance, better known as DeFi.
We guide you through:
Setting up an account at a crypto exchange
Buying ETH
Setting up an Ethereum wallet
Withdrawing to MetaMask
How to use Uniswap and trade from ETH to DAI
How to lend stablecoins on DeFi protcols
How to connect your wallet to portfolio trackers
👉 Read the full post here
DeFi 101
Main DeFi Terms and Concepts
Here is a compilation of our DeFi 101 short guides, plus their related news articles, podcasts, videos and guest op-ed pieces. These resources will get you from newbie to Jedi of the most cutting-edge corner of tech and finance. They’ll help you better leverage our newsletter, video and podcast, which will in turn help you stay updated on the space and take your understanding to the next level. (Last Updated: March 1st — this guide is ever-expanding ).
1. Foundational Concepts
GUIDES
Trust, Intermediaries and Censorship. Read
What Does “Permissionless” Mean?. Read
How Does DeFi Differ From CeFi?. Read
What is KYC?. Read
DIVES
This is How Wall Street Becomes Obsolete. Read
PODCAST
Crypto Devs Are "Building a Life Raft For The World After Fiat Falls Apart:" Erik Voorhees'. Listen
Mark Cuban: "ETH Has an Advantage Over BTC as a Store of Value". Listen
Winklevoss Twins Say Stablecoins Are Still Missing Their "Facebook Moment". Listen
"FinteListench Can Be a 1.5 Bridge Into 2.0 DeFi:" 11:FS Co-Founder Simon Taylor. Listen
2. Wallets and Dapps
GUIDES
DeFi Wallets and Self-Custody: How to be 100% in Control. Read
What is a Dapp and How Does it Use Smart Contracts?. Read
PODCAST
"In DeFi My Money is Actually Mine. It's a Beautiful Concept But it Comes With Responsibilities:" Andre Cronje. Listen
DIVE
We're Totally F*cked If We Don't Find Useful Things to Build With Blockchain: Pet3rpan. Read
3. Decentralized Exchanges
GUIDES
DEXs vs CEXs. Read
What are Automated Market Makers Like Uniswap. Read
DEX Aggregators; The Search Engines of DeFi Trading. Read
DIVES
Uniswap's UNI Instantly Becomes One of DeFi's Most Widely Held Tokens. Read
The Road to Uniswap’s $100B in Trading Volume. Read
4. Resources & Projects
GUIDES
VIDEO
14 #DEFI Buzzwords in 2 minutes! Read
5. Common Use-Cases of DeFi
GUIDES
Lending, Borrowing, Trading, and Stablecoins. Read
Lending and Borrowing with Compound and Aave. Read
What is MakerDAO and How Does DAI Work?. Read
Algorithmic Stablecoins. Read
DIVES
Engineer Becomes His Own Lender in First DeFi Mortgage. Read
Cypherpunk Stablecoin RAI is Live on Ethereum. Read
The State of Stablecoins in DeFi: A Deep Dive by DappRadar. Read
PODCAST
"What We're Building is Very Big and We Should Have The Least Concentration Possible:" Aave's Stani Kulechov. Listen
"All the Dizzying Ways People are Farming Yield is Proof of DeFi Composability's Success:" Ampleforth CTO. Listen
MakerDAO Founder Rune Christensen On DeFi's Biggest Test Yet. Listen
VIDEO
Algorithmic Stablecoins: Sexy AF or A Load of Pants?. Watch
6. Decentralized Derivatives
GUIDES
Trading Every Asset Class with DeFi Derivatives. Read
Decentralized Perpetuals Trading with dYdX and MCDEX. Read
DeFi On-Chain Options. Read
DIVES
DeFi Stocks Trading Climbs After Robinhood Fail. Read
PODCAST
"There's the Opportunity to Make Really Complex Financial Instruments More Accessible”: Opyn's Alexis Gauba. Listen
DEX Progress to be a "Landmark Event" Over the Summer: Framework Ventures. Listen
VIDEO
How to trade stocks if your Robinhood account is frozen. Watch
7. “Yield Farming” & Investing
GUIDES
DIVES
Top DeFi Yield Farmers Share Secrets to a Profitable Harvest. Read
Hotdog & Kimchi Coins Flash Million-Percent Yields. Read
Results Are In: DeFi10 5x-ed in 2020. Read
PODCAST
"You Can Wake Up With an Idea for a Fund and Deploy it in Minutes:" Melon's Mona El Isa. Listen
Balance Sheet as a Business Model for DeFi Platforms: Framework Ventures. Listen
"It Was Exciting But it Was Also Terrifying:" Dan Elitzer and Clinton Bembry on Yam Finance's Backstory. Listen
"It's not just about money; it's touching a very primal desire to connect with others:" ParaFi's Santiago Roel. Listen
"We're at the Early Stages of a Truly Novel Structure That can Organize Humans and Money:" Polychain Capital’snOlaf Carlson-Wee. Listen
"Things Tend to Get Better. For Anyone Involved in Crypto, It's Obvious That This is 1,000x Better," 1kx's Lasse Clausen. Listen
VIDEO
DeFIRE: how to retire using only DeFi with passive income. Watch
The ultimate guide to Yield Farming in DeFi. Watch
DIVE
DeFi Will Eat Traditional Finance and Active Investors Can Reap the Rewards. Read
8. Scaling
GUIDES
DIVES
The State of Layer 2 With Ethereum Scaling is at Stake. Read
PODCAST
"Basic Financial Services is a 21st-Century Fundamental Human Need:" OMG Network's Vansa Chatikavanij. Listen
Decentralized Money Shouldn't be Traded on Centralized Exchanges: Loopring Founder Daniel Wang. Listen
VIDEO
Layer 2 scaling on Oculus Quest 2!? Loopring, Matic, Aavegotchi and Synthetix. Watch
9. NFTs & Digital Art
DIVES
The Defiant’s Guide to Digital Art & NFTs. Read
Digi-Physical Art Drives Record-Breaking $3.5M in NFTs Sales. Read
NFTs Should Be Experiences, Not Just Products: IDEO CoLab’s Ian Lee. Read
PODCAST
"For the First Time, You Can Buy a Piece of the Art, and a Piece of the Gallery:" MetaKovan. Listen
"I'm Imagining a World Where Every Song Has an Investable Layer:" DJ 3LAU. Listen
"We've Been Creating Value for Instagram and TikTok With Very Little Actually Accruing to Us:" Trevor McFedries. Listen
"It Turns Out Music Does Have Value. We've Been Pricing It Incorrectly For 20 Years:" RAC. Listen
VIDEO
The Beeple Bonanza unpacked with Trevor Jones. Watch
The Defiant guide to Digital Art and NFTs. Watch
10. Risks
GUIDES
DIVES
Yearn Loses $11M in 2021’s First DeFi Hack. Read
For All You Degens Farming in Public: Here's Your Privacy Toolbox. Read
LISTEN
"I'm Not Super Bullish on DeFi. We're Using This Tech to Enrich a Small Group of People:" James Prestwich. Listen
Blockchain Devs Are Neglecting Data-Related Risks, Chainlink's Sergey Nazarov Says. Listen
VIDEO
You stole $37M, now what? The $CREAM $ALPHA exploit unpacked. Watch
Flash Loans, and Attacks -- explained. Watch
DeFi Dre and the Invisible Hacked Pickles. Watch
11. Cross-Chain DeFi
GUIDES
What is Interoperability and Why is it Important?. Read
How Bitcoin, Ethereum, and Other Blockchains Fit Within DeFi. Read
The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains.
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