Struggling to Grasp. Any Basic help on this would be welcomed

Defi 101 Course
#1

Hey everyone. So intrigued about Defi, in simple terms what i have gathered so far is its another platform of Decentralised Exchanges where they work with ETH in a way to interact with Smart Contracts, Dapps etc…

What are the main reasons why this is something we should all be getting our heads around DEFI?

I’ve not finished all of 101 yet but so far i under stand Dapps. I get that. Really struggling with The loaning borrowing stable-coins etc. i probably will need to watch these a few times and take some time with them.

What im asking is if some one was in the same position as me in the past maybe you can put a few sentences down of simplifying this out a little.

Cheers all.

Great Forum

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#2

Best way to get a good understanding is to write a summery of the concept you do understand.
You can share this and then other people can again learn from you :slight_smile:

The hardest concept to understand is why would people borrow money with money they already have?
The simple answer is exposure to other asses classes.
you can create an almost free leveraged position while getting exposure to one asset class when using the lending and borrowing option.

When looking at this concept keep in mind that: Over collateralize loans are the hello world of decentralized financial system … so we still have a long way yo go :slight_smile: But amazing developens are happening right now.

When your done with DeFi 101 be sure also to follow DeFi 201

See here a summery of the ecosystem I wrote when I was studying.

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#3

Thanks Amadeo, the Course is great and you go in to great detail. I will probably chop it down in to 20 min sessions …

Thanks for the reply once again.

Rob

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#4

Hi

I would say because it is the future of money and all smart contrcacts/Dapps coming of the network will benefit future adoption. It depends why you are interested in Crypto , if it is to be a developer then this is key to know the way things are moving and maybe somehwhere in there you will find your prefereed area. For me its financial and also finding a niche rea i can code and start a Dapp. I am sure there are many other replies you may get which may have a different angle to me, maybe more technical it all depends what angle we want out of this…good luck

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#5

Thanks @Crypto_Mark_007 as the days/weeks are going forward i am most definatley now getting my head around it. We can now buy a token and start owning that right before it even goes to the exchanges due to the likes of Uniswap etc. Thanks again @amadeobrands

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#6

@amadeobrands that is some read fella…Where is Curve in that diagram tho :wink:? Haha. Cant wait for CRV token to launch… Are you buying some bags of it or what?

#7

I think focus needs to be on building.
But yes Curve does seem interesting.

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#8

Just chiming in to let you know I empathize. I slammed through Blockchain 101 and Ethereum 101 with extreme zeal throwing all of my attention into it while taking down lots of handwritten notes. I was truly a maniac delving into these courses.

I couldn’t wait to begin DeFi 101 and start devouring more information. This course seems a little more abstract (at least at the beginning) and there is a large amount of new information being introduced. So far DeFi 101 has had a different flow to it, there are links to articles as well as tools to explore so each video lesson has paths that branch off to be explored before going back to the main lessons. I had to force myself to slow down, and even take a break to allow myself time to absorb what is being presented. I decided to start over from the beginning and now I have a much better grasp as I review the videos that I have watched previously.

It is very exciting to be back and my enthusiasm continues to be very strong. It was difficult to force myself to step aside, take a break, and slow down but this has allowed my new understandings to take root.

I am very grateful to be taking part in this academy and I want to thank all of the moderators who have given feedback on my homework as well as the other members who I have interacted with. Your feedback has been very motivating. Thank you everyone.

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#9

Yeah exactly the same, Good shout :+1:

#10

When you say ‘building’ what do you mean?

#12

Develop a program in the DeFi space.

#13

Thank you.
And would love to see what your doing in the space ever since?

#14

I’m back and this is amazing!!! After immersing myself daily in crypto videos on youtube I’m thinking differenlty now. Looking behind the GUI doesn’t look like an intimidating wall of heiroglyphics anymore, I’m more relaxed now when playing around with brave browser. This whole space is like a flowing stream with rapid development, it took a little time to become accustomed to constant change and how to budget time when trying to get up to speed.

Not to mention my hodling portfolio has matured quite nicely this year, now I can learn how to begin putting some of that to work.

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