DeFi, şüphesiz kripto pazarının bir sonraki evrimi haline geldi. Peki DeFi tam olarak ne anlama geliyor ve bu pazarda herhangi bir yatırım fırsatımız var mı? Bu yazıda, bu soruların cevaplarını bulalım.
DeFi nedir?
DeFi (veya Merkezi Olmayan Finans ) , tüm finansal kurumların ve finansal araçların merkezi olmayan bir şekilde çalıştırıldığı bir finansal sistemdir. Başka bir deyişle, DeFi, açık finans denilen şeyi yaratmak için Blockchain'in ademi merkeziyetçi özelliğinden yararlanır. Açık bir finans sisteminde, herhangi bir kişi veya kuruluşun iznine ihtiyaç duymadan herkesin finansal hizmetlere erişimi vardır.
DeFi, gözaltına alınmayan anahtar özelliğiyle ekli .
DeFi (Merkezi Olmayan Finans) nedir?
DeFi ayrıca, CeFi gibi finansal kurumların ve araçların eksiksiz bir yapısına sahiptir:
Ayrıca CeFi'de tasarruf, borç verme ve borçlanmadan fatura ve borç ödemelerine kadar tüm finansal faaliyetlere sahiptir.
Aradaki fark, tüm bu faaliyetlerin merkezi bir kuruluş tarafından değil, otomatik olarak Blockchain'in akıllı sözleşmeleriyle yürütülmesidir.
DeFi vs CeFi : Aralarındaki fark nedir?
CeFi nedir?
CeFi ( veya Merkezi Finans) , tüm finansal kurumların ve finansal araçların merkezi bir şekilde işletildiği bir finansal sistemdir. DeFi'nin aksine, saklama CeFi'nin temel özelliğidir. Bu, tüm finansal hizmetlerin üçüncü bir taraf aracılığıyla yürütüleceği anlamına gelir.
CeFi (Merkezi Finans) nedir?
CeFi'deki finansal kurum ve araçların yapısı şu şekildedir:
CeFi'de yukarıda bahsettiğim gibi tüm finansal işlemler (tasarruf, borç verme, borç alma, fatura ve borç ödeme,...) üçüncü bir taraf aracılığıyla gerçekleştirilecektir. Bu üçüncü taraf Merkez Bankası, Hükümet veya herhangi bir finans kurumu olabilir.
DeFi'yi CeFi'den ayırt edin
CeFi veya Geleneksel Finans ile DeFi arasındaki temel fark, emanet mülkiyetidir.
Geleneksel finansta güç, belirli finansal aracılarda (Devlet, Merkez Bankası, finans kurumları) yoğunlaşmıştır. Buna karşılık, DeFi'de tüm bu aracılar blok zincirinin gücüyle ortadan kaldırılır:
DeFi ve CeFi arasındaki fark
DeFi'nin misyonu, internete erişimi olduğu sürece finansal hizmetleri nerede ve ne zaman olursa olsun herkes için erişilebilir kılmaktır. Bu, DeFi'nin açık özelliğidir.
Aşağıdaki resim, CeFi'deki her bir finansal bileşenin DeFi'ye nasıl aktarılabileceğini göstermektedir:
DeFi nasıl çalışır? DeFi'nin genel özellikleri
DeFi, blok zinciri teknolojisi ve akıllı sözleşmeler uygulayarak aracılara olan ihtiyacı ortadan kaldırarak merkezi olmayan bir finansal sistem sunar. DeFi, varlıkları depolamak ve aktarmak veya bu varlıkları Merkezi Olmayan Borsalar, Merkezi Olmayan Borç Verme ve Borç Alma gibi dApp'ler ( merkezi olmayan uygulamalar ) aracılığıyla kullanıma almak gibi çeşitli amaçlar için kullanılabilir .
DeFi, blockchain teknolojisinin en pratik ve güçlü uygulamaları arasında yer alıyor. Tüm finansal hizmetlerin izinsiz, güvenilmez, şeffaf ve gözetimsiz bir şekilde yürütüldüğü, varlıklarının tek sahibinin insanların olduğu bir açık finans geleceği vaat ediyor.
DeFi'nin Özellikleri
Bitcoin DeFi mi?
Bitcoin , var olan ilk kripto para birimidir ve aynı zamanda blok zinciri teknolojisini ilk tanıtandır. Şu ana kadar Bitcoin, kripto pazarında en yüksek piyasa değerine sahip en büyük, en güvenli ve en merkezi olmayan kripto para olmaya devam ediyor.
Bununla birlikte, uzayda öncü madeni para olarak, diğerlerine kıyasla yalnızca birkaç kullanım durumu vardır. Şu anda, Bitcoin esas olarak bir değer deposu varlık olarak kullanılmaktadır. Öte yandan DeFi, Verim Tarımı veya Borç Verme ve Borç Alma gibi çeşitli finansal uygulamalar sunar.
Bitcoin ve DeFi sadece kullanım durumlarında değil, aynı zamanda temel konseptlerinde de farklıdır.
Hal böyle olunca , akıllı sözleşmelerin olmadığı bir blok zinciri üzerinde çalıştığı için orijinal Bitcoin'in DeFi olmadığı ve olamayacağı sonucuna varılmıştır . Bununla birlikte, Bitcoin DeFi vizyonunu uygulamak için Lightning Network veya Bitcoin SV gibi birkaç blok zinciri geliştirilmiştir.
Bitcoin Blockchain'in 2. Katmanı Olarak Lightning Network
DeFi Uygulamaları
Merkezi Olmayan Stabil Paralar
Stablecoin , değeri istikrarlı varlıklara sabitleyerek oynaklık özelliğini ortadan kaldıran bir kripto para birimidir: altın, fiat,... Fiat'ın geleneksel finanstaki önemine benzer şekilde, stablecoin bir değişim aracı, piyasa çöktüğünde bir değer deposu ve Kripto gibi oldukça değişken bir piyasada çiftçilik yaparken veya borç alırken riskten kaçınan yatırımcılar için mükemmel bir varlık.
Stabilcoin'in büyük önemi nedeniyle, bir ekosistemin büyümesini tahmin etmek için bir gösterge olarak kullanılabilir.
Stabilcoin'in bir ekosistemin büyümesi üzerindeki etkisi
Teminat varlıklarının özelliklerine göre 4 ana sabit para türü vardır:
Stablecoin Türleri
Şu anda, piyasa değerine göre ilk 5 stablecoin, USDT, USDC, UST, BUSD ve DAI'dir ve lider konum merkezi sabit paralara (USDT, USDC) aittir. Bununla birlikte, merkezi stabilcoinler, güven ve yasal düzenlemeler açısından zayıflık gösteriyor. Bu, diğer para birimlerinin pazar payı kazanması için bir şans yaratır.
Örneğin, algoritmik bir stabilcoin olan UST, son zamanlarda BUSD ve DAI'yi geçerek ilk 3'e ulaşmak için piyasa değerinde çarpıcı bir artış kaydetti. bunun yerine merkezi olmayan bir tane.
Piyasa Kapitalizasyonuna Göre En İyi 5 Stablecoin
Merkezi Olmayan Borsalar (DEX)
DEX'ler ( Merkezi Olmayan Borsalar ), blok zincirinde çalışan kripto para borsalarıdır. DEX'ler, CEX'teki (Merkezi Borsa) aracıları kaldırır, eşler arası işlemleri ve ticareti izinsiz ve gözetimsiz bir şekilde sağlar.
Yukarıda bahsettiğim gibi, DEX'ler 2 şekilde bulunur: emir defteri ve AMM (Otonom Piyasa Yapıcılar).
DeFi Llama'dan TVL'nin En İyi 10 DEX'i
Currently, Curve is the protocol that captured the highest TVL in the market at ~$20B. From the picture, we can see the multi-chain trend when many native Ethereum DEXs (Curve, Uniswap, SushiSwap,…) have already been deployed on other chains.
Other than Ethereum, other chains such as BSC, Avalanche, Solana also have their native DEXs with impressive TVL, namely PancakeSwap, Trader Joe, Raydium, respectively.
Decentralized Lending and Borrowing
Lending & Borrowing is an indispensable part of any financial system as it enables people to maximize their capital efficiency. However, unlike traditional lending, all lending and borrowing activities in DeFi are facilitated automatically by smart contracts without the existence of any third party. This again creates a permissionless and transparent money market, where anyone can take part in it easily.
However, Lending & Borrowing always has default risks. These risks are even exaggerated in the crypto market due to the huge fluctuation in the price of collateral assets. That is why the most common type of borrowing in crypto is over-collateralized borrowing, which means that borrowers must deposit more than what they borrow. Some top lending platforms: AAVE, Compound,...
Cream and Mars Protocol are among a few proctors that allow under-collateralized borrowing, but this type of borrowing is only applicable to whitelisted projects, not to the community.
Lending projects on different blockchains
Liquidity Mining
Liquidity Mining can be understood as Yield Farming & Liquidity Farming.
The success of the Compound liquidity farming program in 2020 proves the power of liquidity and yield farming in attracting users to the platform. As a result, liquidity mining has been the most favorable strategy for any newly launched project to attract the community's attention.
SushiSwap took over Uniswap in TVL in less than 1 week through a liquidity mining program on August 28, 2020
Aggregator (DEX Aggregator & Yield Aggregator)
To maximize capital efficiency, a new type of protocol has been invented: Aggregator.
DEX aggregators: Provide the best trading price. Due to the slight differences in prices offered by different DEXs, users have to compare the prices manually to trade with the best price. DEX aggregators remove this time-consuming process by tapping into the liquidity pools of different protocols, automatically comparing the prices, and conducting your trade at the optimal price.
Currently, 1inch is the leading DEX Aggregator by trading volume, followed by Matcha, MetaMask, and Cowswap.
Yield aggregators: Provide the best yield. Similar to DEX aggregators, yield aggregators are able to offer the best profits by comparing yields on different platforms and suggesting the best yield strategy for users.
Top yield aggregator by users deposits: Source: DeBank
Margin Trading/ Derivatives
Margin trading is a way of trading that uses borrowed assets to amplify the trading results. This means that users can multiply their profits but can also lose all of their money at the same time.
Derivatives: Another tool for traders to exaggerate their profits. Traders trade against the future value of assets under a contract. In this case, people do not have to own the asset but can still benefit from its price movement.
In the crypto world, the CeFi is still outperforming DeFi in this field, with top derivatives exchanges by open interest and trade volume mostly being centralized exchanges.
Some notable projects in this field are dYdX, Perpetual, Drift Protocol, and MCDEX.
Synthetic Assets
DeFi is on the way to being able to provide any financial assets that are available in traditional finance. However, thanks to the power of blockchain, DeFi can offer even more than that, and synthetic asset is one example.
A synthetic asset is basically a tokenized derivative that mimics the behavior of another asset. Synthetic assets allow users to have exposure to any financial market by creating a synthetic version of them. For example, Synthetix - a pioneering protocol in this field, offers many types of assets from crypto, forex, and equities to commodities.
This is one of the most convincing pieces of evidence to prove that DeFi creates a permissionless and open financial market, removing any restrictions preventing people from entering a certain market in traditional finance.
Launchpad
Launchpad is a platform that supports the initial launch of projects. With such a fast-growing space of DeFi, the launchpad has become an integral part of a whole ecosystem, offering a place for new projects to raise funds and awareness to the community as well.
This is why Launchpad is considered the driving factor of DeFi as the growth of launchpad attracts a large number of new users and bootstraps the arrival of many new projects.
NFT
NFT (or Non-Fungible Tokens) are tokens that are indivisible, unique, and ownable. Among those attributes, uniqueness is the most important one that leads to many applications of NFT.
Currently, most NFTs exist in the forms of artworks: pictures, cards, collectibles,... Unlike traditional digital artworks, which can be easily copied, thanks to the uniqueness of each NFT, artworks in the form of NFT can remain their scarcity, which captures value for them in the NFT marketplace.
Opensea is the largest NFT marketplace
The NFT marketplace recorded a hype in August 2021 with the trading volume reaching more than $1B, in which ~97% was contributed by Opensea.
However, the hype gradually faded as people saw the limited use cases of NFT. People can only use NFTs for trading and nothing else. If NFTs are not listed in the marketplace then people can only store them in their wallets.
For NFTs to revive in the future, there must be more use cases for NFTs to create motives for holding NFTs. Gaming is expected to be the leader in creating more use cases for NFT. The growth of games like Axie Infinity has made game assets (pets, lands,..) exist in the form of NFTs increase in value. What’s more, in DeFi, many projects also start to plan for more applications of NFTs: such as NFTs being used as the collateral in lending.
“Interactive NFTs” are just in the first stage but can promise to be the trigger for a more suitable growth of NFTs soon.
Decentralized Oracles
Oracle: Connect blockchain with real-world data. You can imagine the importance of oracle to a blockchain, similar to the importance of the internet to a computer.
Oracle brings the outside blockchain data to its smart contracts. Without oracles, lending protocols can not determine the price of the collateral to trigger liquidation when needed or synthetic assets can not exist due to the lack of data about the behavior of the real assets (stocks, indexes,...).
Therefore, Oracle is an indispensable part of the development of any blockchain. Some notable names in this field are ChainLink, Band Protocol, DIA,...
Decentralized Bridges
Bridge: Connect one blockchain to another. Each blockchain can be compared to a nation having its own regulation of what assets should be used in its territory. Similarly, each blockchain has its own standard of tokens (Ethereum with ERC-20, BSC with BEP-20,...) that can be used in its ecosystem.
On one hand, this ensures high security for a blockchain. Still, on the other hand, it restricts capital efficiency when one type of asset is limited to a certain chain. This is where the need for a cross-chain bridge arises, facilitating the transfer of assets among different blockchains.
Similar to a country’s development after opening trade with other countries, bridges have boosted the expansion of DeFi as a whole and of each blockchain in particular. For instance, ~25% of TVL in Ethereum is contributed from bridged assets from other blockchains (BSC, Avalanche, Fantom,..) (sources: here).
Decentralized Insurance
In DeFi, Decentralized Insurance aims to maintain users' funds while they are used for highly risky plays in DeFi.
Nevertheless, this category has not been noticed appropriately. This is clearly evident as there have been way too many hacks and exploits in DeFi with a massive amount of fund loss.
From my viewpoint, this category deserves better attention. In the future, Decentralized Insurance may be a promising niche to follow. Some potential projects in this field: Nexus Mutual, InsurAce, Cover Protocol,...
Others
Besides the above mentions stacks, DeFi is developing at an impressive rate to bring a wide range of financial services to users. Some other DeFi stacks:
To sum up this part, you can see that DeFi in 2022 is much more developed than DeFi in 2020. This is clearly indicated in the diversification of financial products offered by DeFi in 2022. This will be one of the key drivers to attracting more users to DeFi when people see that DeFi can meet all of their financial needs just like the traditional world (saving, lending, margin trading,...), even with more innovations.
DeFi Revolution
Before Ethereum, the only financial application of cryptocurrency was payment through Bitcoin. However, people wanted more than that, they desired a more comprehensive range of financial services: saving, lending, borrowing, trading,... As a result, Ethereum was introduced to trigger an era of DeFi.
The development of DeFi can be divided into 3 phases:
The early stage of DeFi (2017 - 2020)
The first event that started the new era of DeFi was undoubted the launch of MakerDAO in 2017. MakerDAO created the first decentralized stablecoin (DAI) that did not require trust from a centralized entity like USDT, USDC,... The value of DAI was backed by a decentralized digital asset instead of dollars reserved in banks. MarkerDAO was the first money lego that enabled the formation of many protocols afterward.
The year 2017 also recorded a new trend in fundraising - ICO (Initial Coin Offering). Protocols raised funds by exchanging their projects’ tokens for ETH. ICO created hype in the community with 800 ICOs, raising a total of ~$20B. Among them, there were still scam projects that took advantage of the overhype in the market. However, many high-quality protocols were also built at this time: AAVE, Bancor, 0x,...
Protocols launched in the ICO period. Source: Finematics
The next breakthrough in DeFi is the arrival of Uniswap in 2018, which brought the new concept of an AMM DEX to the market. Other than BTC, ETH, the trading volume of many coins/ tokens was extremely small but users still had the need for exchanging these assets.
While order-book DEX failed to meet this demand, the AMM model was able to do so. Uniswap created a permissionless liquidity pool, where anyone could supply or take the assets from the protocol. This model had created liquidity for many illiquid assets to boost the trading activities in DeFi.
Uniswap AMM Model
This phase ended with: “Black Thursday” event in March 2020: The price of ETH dropped by 30% in just 24h due to the fear of the global pandemic at that time. People rushed to pay off debt, increase collateral,.. which put pressure on the Ethereum infrastructure, resulting in a striking increase in gas fees.
The sharp fall in ETH price also led to a wave of liquidation in the borrowing market that used ETH as the collateral. MakerDAO was the most affected protocol when enduring a shortfall of ~$4M worth of ETH.
This event worked as a stress test for a nascent industry like DeFi. After this event, DeFi was even strengthened, and this brought us to the next milestones for DeFi: DeFi Summer in 2020.
DeFi Summer (March - September 2020)
DeFi Summer in 2020 was triggered by a concept called “Liquidity Mining” which was first offered successfully by Compound. To bootstrap the platform's liquidity, Compound had rewarded COMP tokens to all of its lenders and borrowers.
After the success of the Compound liquidity mining program, this method was adopted by many other protocols (Synthetix, Curve, Ren,...) to attract users to their platforms.
Yearn Finance was another notable name in this period, Yearn Finance offered a new model named yield optimizer, which even further leveraged the yield that users could earn.
Besides its success as a yield optimizer, Yearn Finance also was the project that invented the concept of a “fair launch” token. Before that, users only had access to the token sales after many seeds/ private rounds, which meant they had to buy at a higher price than a group of people. This, for many people, was an unfair way to distribute tokens.
In contrast, “fair launch” meant tokens were distributed right to the community with no pre-sales to generate a fairer game. This was precisely how Yearn Finance launched its tokens in July 2020.
Yearn Finance
After many breakthroughs in DeFi, it came to a stage when “copy-cat” projects appeared, and builders did not put effort into building new products but just copied the existing model of other protocols.
YAM protocol, which was the folk of Ampleforth and Yearn Finance, is the first project to start a series of copy-cat protocols (Pasta, Spaghetti, Kimchi, HotDog,...). Due to a lack of innovations, all of these projects failed after several days.
However, not all folks were unable to survive. SushiSwap was initially the folk of Uniswap, but up to this date, it is one of the top protocols by TVL by having a wise multi-chain expansion strategy.
To sum up, after the DeFi Summer 2020, the TVL of the DeFi market had nearly x10 from ~$1B in March to ~$10B in September 2020. More specifically, DeFi Summer 2020 had placed the foundation for the most fundamental activities in decentralized finance:
DeFi in 2021 - 2022 (Now)
DeFi in 2021 - now can not be wrapped up in just one picture like 2020. DeFi has grown dramatically and offered nearly all desired products in traditional finance.
Some key highlights of the difference between DeFi 2021 and DeFi 2020:
To better understand DeFi 2021, let’s have a closer look at each of its components in the following part.
What are DeFi Coins? How to invest in DeFi Coins?
DeFi coins are basically all cryptocurrencies that support DeFi applications.
To invest in DeFi coins, you have to pick out a few most potential ones. Here are some criteria to evaluate a good DeFi coin:
What is DeFi Wallet?
DeFi Wallet is a type of application that acts as a wallet to store and interact with your cryptocurrencies. At the moment, there are 3 main types of DeFi Wallets:
Hot wallets or Non-custodial wallets are places to store coins/tokens online, where users have to keep the private keys to protect their own crypto assets. There are some popular wallets for storing crypto assets, namely: Coin98 Wallet, Trust Wallet, Metamask, etc.
Cold wallets exist in the physical shape (usually as a USB) that require multiple security steps. Investors often use cold wallets for long-term coins/tokens storage. This complexity enhances the security of the wallet in return. Some popular cold wallets are Ledger, Trezos, etc.
Wallets on exchanges or Custodial wallets, basically, users don’t own any private key, they access their funds by password kept by the exchange. Since investors store their crypto assets on exchanges, there are potential risks of scams and shutdowns. Binance, Okex, and Coinbase are the most popular centralized exchanges.
What is DeFi Ecosystem? Some DeFi Ecosystems you should pay attention
As mentioned above, DeFi has various decentralized applications forming a financial system. When they are built on the same blockchain platform, they will create what is called a "DeFi Ecosystem". Ethereum has been the most developed DeFi Ecosystem as it has the highest number of projects as well as dApp categories.
Besides the diversification in the financial services, the development of DeFi is also represented by the rise of many blockchains other than Ethereum. At the end of 2020, the TVL of Ethereum still accounted for 97% of the total TVL of DeFi. However, at the end of 2021this number has reduced to 66% with the expansion of other chains: Binance Smart Chain, Solana, Avalanche, Terra,...
BNB Smart Chain (BSC)
BSC is currently the 2nd biggest blockchain by Market Cap in the whole DeFi Market. It is the first blockchain to capture the TVL outflow from Ethereum.
The skyrocketing growth of Ethereum resulted in recurring congestion and an extremely high transaction fee on this network. The average transaction fee had reached ATH at ~$70 in May 2021, posing a huge scalability problem for Ethereum. While at that time, the DeFi ecosystem of BSC had offered the most fundamental DeFi stacks so users started to move their assets to this network to find new investment opportunities.
Learn more: BNB Smart Chain (BSC) Ecosystem Overview
Source: bitinfocharts
May 2021 was also the period that the TVL in BSC reached ATH at $32B. BSC led by CZ, one of the most influential figures in crypto, was the creator of many trends in the market: from “NFT” in June to “GameFi” in July and “Metaverse” in August.
A complete landscape of DeFi on BSC. Source: Coin98 Analytics
After the period of “overheating”, the BSC ecosystem has come to the “cooling” period. However, with the support from a giant like CZ, BSC is still expected to be a key player in this fast-growing market.
Terra
Terra is the second biggest DeFi Ecosystem in terms of TVL. Terra builds an algorithmic stablecoin, UST, as the core product of the ecosystem. By expanding the use case of UST across numerous different platforms, Terra has been able to scale its ecosystem to the next level of mass.
Even though DeFi exists on Terra, its main focus is actually not DeFi. Instead, they focus primarily on developing UST. This is done by getting UST to be used by more products and more users through applications like Lending & Borrowing, Payments, Synthetics,... At the moment, Anchor is the biggest project on Terra by allowing UST farming with high yields.
Learn more: Terra Ecosystem Overview
Terra TVL skyrocketed after a few months
Solana
Solana is one of the most notable names in 2021 when recording tremendous growth in the past year. Similar to BSC, Solana is led by one of the most influential players in crypto - Sam, founder of FTX exchange.
However, unlike BSC - built as an EVM-compatible chain, which means that projects on Ethereum can be easily deployed on BSC, Solana is a non-EVM-compatible chain. Therefore, Solana is said to be a blockchain with many innovations.
Learn more: Solana Ecosystem Overview
Solana Ecosystem. Source: Solanians
Up to this date, Solana has had projects in different DeFi stacks: from DEXs, yield farming to derivatives, prediction,... However, the TVL is not distributed evenly among DeFi stacks on Solana, with the vast majority of TVL still concentrated on DEXs and Assets (yield protocol). Therefore, Solana remains a hugely promising blockchain with the explosion of other DeFi stacks soon.
Other blockchains
Besides Binance Smart Chain and Solana, DeFi 2021 saw the rise of many other blockchains: Avalanche, Terra, Fantom, Near,... Each chain is building its own DeFi ecosystem to attract users.
The money in DeFi is constantly seeking for the chain with the highest earning potential, so you should follow the change in TVL constantly together with the market sentiment to spot your own investment opportunities in this market.
The Future of DeFi
DeFi is constantly developing to offer better experiences for users. Recently, we saw the rise of the new term “DeFi 2.0” as a new phase of development for DeFi. So what problems DeFi is facing right now and how DeFi 2.0 can be a solution for those issues:
Liquidity
Liquidity is a key requirement for the development of any financial market. Most protocols are bootstrapping liquidity by liquidity mining programs with high APY. However, this technique generates unsustainable liquidity for the protocols as users leave the protocol as soon as the APY decreases and the price of the protocol tokens will dump aggressively.
A solution for this is to lock the yield to ensure sustainable capital in the protocol. One protocol that applies this technique is Olympus DAO. It uses the bond model in traditional finance to payout yield for users, which means that instead of paying all yields in one day, the yields will be divided to be paid evenly for 5 days. This prevents the dump in the price of farming tokens when peoples sell yield tokens immediately after earning enough.
Decentralization
Decentralization is among the key properties that define DeFi. However, the DeFi market is actually not as fully decentralized as people expect. One example is the case of Uniswap when the community was unaware of the proposal to sell a $20M UNI token for the “DeFi Education Fund”. Even after acknowledging this plan, the vote of each individual in the community was powerless as the number of “yes” votes had already been dominant by a group of powerful people.
DeFi 2.0 solves these issues by what is called DAO (Decentralized Autonomous Organization). Instead of running by the control of humans, DAO uses the power of blockchain to run automatically by a series of coded rules. The key highlight of DAO is that DAO ensures every member can easily access and vote for any raised proposals in the most decentralized way.
Capital Efficiency
TVL in DeFi is increasing at an impressive rate, but a large proportion of that has not been utilized efficiently.
Some of DeFi 2.0 protocols have offered solutions for those issues. For example, Uniswap V3, with the design of centralized liquidity, has maximized the capital efficiency insides its liquidity pool, while Abracadabra offers a use case for interest-bearing tokens when they can be used as collateral to mint stablecoins. All of the innovations in the design of DeFi 2.0 protocols have boosted the capital efficiency in DeFi.
In case you want to learn more about DeFi 2.0 and its Future, this article will be useful for you: What is DeFi 2.0?
Investment Opportunities with DeFi
DeFi is a young market compared to other financial markets like stock, gold,... Therefore it offers high returns but also has extremely high risks, so you should do your own research before making any investment decisions. The following part will be some suggestions of how to earn from this market that you can read as a reference.
Invest in DeFi coins/ tokens
It may be the most common and easy way to start investing in DeFi. Each project tends to have its own native token that offers its own upside opportunities. Due to high risk, the extent of an upside in crypto is also much more significant than any other traditional market.
IDO, IEO, IGO, IFO
Despite different names, they are basically a method that you can buy a coin/ token/ NFT at its first initial public offering price. The potential returns from this method are also impressive. You can take the ATH ROI of projects launched IFO on Pancakeswap as a reference.
Airdrops, retroactive
This is a way a project reward tokens for its early supporters. Therefore, by experiencing a protocol at an early stage, you own a chance to receive a huge amount of rewards from the protocols.
For you: What is Retroactive Airdrop?
Skin in the game
This is when you become a real user of DeFi, as a participant in this financial market. As I mentioned above, DeFi has offered nearly complete financial services like traditional finance: saving, lending, margin trading,... so you can leverage your capital by utilizing all of DeFi services.
“Farming” is one of the most favorite “skin in the game” activities when users can earn from their initial capital with a much higher interest rate compared to traditional finance.
How to optimize yield by leveraging different protocols (AMM, Saving, Synthetic, IDO) on Terra (source: here)
Conclusion
I hope that this article has provided you with a fundamental understanding of DeFi. If you want to discuss more this topic, feel free to join Coin98 Community.
Çiftçilik, kullanıcıların DeFi'de kolayca kripto kazanmaları için iyi bir şans. Ancak kriptoyu toplamanın ve DeFi'ye güvenli bir şekilde katılmanın doğru yolu nedir?
Makale, yazar @jdorman81'in Defi'deki değerleme konusu hakkındaki görüşünü ve çevirmenin bazı kişisel görüşlerini tercüme etmektedir.
Kriptoda Sabit Faiz Oranı arasındaki fark nedir? Sabit oranlı projelere ve potansiyel yatırım fırsatlarına genel bir bakış edinin.
Andre Cronje, şimdiye kadarki en başarılı DeFi Dapp'lerinden birini geliştirmeye başladığında yaşadığı zorlukları anlatacak.
Teşvik Programı nedir? Teşvik Programı, platform jetonunu ve ekosistemi nasıl etkiler? DeFi'ye gerçekten yardımcı oluyorlar mı?
Beğenin ya da beğenmeyin, Uniswap, Compound, Curve gibi DeFi protokolleri… her zaman, her yerde, kim tarafından ÇATAL olacağını kabul etmek zorundadır.
Geleneksel ekonominin yapısını ve işleyişini analiz edin, böylece geleceğini projelendirmek için Kripto pazarına eşleyin.
Bu bölümde DeFi'deki ana risklerden ve proje seçiminde risklerin nasıl sınırlandırılacağından bahsedeceğim.
Makale size DeFi'yi oluşturan katmanları sunarak yatırım projelerini değerlendirmenize yardımcı olur.
Makale, yazarın Serum'a bakış açısını paylaşıyor - Solana'da bir DeFi Hub, böylece Serum'un ne yapmak istediğini görselleştirebilirsiniz.
Lending alanıyla potansiyeli değerlendirmek ve yatırım fırsatları bulmak için verilere dayanarak, her ekosistemdeki Kredi bulmaca parçalarını analiz edin.
Delphi Digital tarafından düzenlenen DeFi Connected Hackathon, Terra ekosistemini geliştirmeyi hedefliyor. Peki kazananlar kimler?
Bu makale, Verim Tarımı hakkında bilmediğiniz ilginç ve faydalı bilgiler olan Verim Çiftçiliğini daha iyi anlamanıza yardımcı olacaktır.
Her ekosistemde NFT yapboz parçalarını analiz edin ve gelecekteki NFT ve DeFi trendleriyle yatırım fırsatlarını araştırın!
Makale, DeFi Sabit Oranın öneminden bahseden, Notional Finance üyesi Teddy Woodward'ın bakış açısından çevrilmiştir.
Bu makale, Serum ekosistemindeki DeFi Protokollerine ve bunların güçlü ve zayıf yönlerine genel bir bakış edinmenize yardımcı olur.
Makale, kripto para birimlerini havuzlara yatırmaya karar verirken faizle ilgili hususlara genel bir bakış sunar.
Makale, Blockchain'e dayalı olarak geliştirilen teknoloji projelerinin yönünü, yani Web3'e geçişi gözden geçirmektedir.
Makale, bu projeyi ilk adımlardan takip edip etmemeye karar verdiğiniz ilk aşamalarda Notal projesi hakkında bilgi veriyor.
Santos FC Taraftar Tokenı Nedir? SANTOS Simgesi nedir? SANTOS Tokenomics hakkında daha fazlasını buradan öğrenin!
TomoChain (TOMO) nedir? Bu makale size TomoChain (TOMO) kripto para birimi hakkında en faydalı bilgileri sağlar.
Çığ nedir? AVAX madeni para nedir? Avalanche'ı diğer Blockchain'den farklı kılan nedir? AVAX Tokenomics hakkında daha fazla bilgi edinin!!!
ShibaSwap nedir? Tüm ShibaSwap olayları ve SHIB Token tokenomik detayları hakkında daha fazla bilgiyi burada bulabilirsiniz!
Tezos nedir? XTZ Simgesi nedir? Tezos'u diğer blok zincirlerden farklı kılan nedir? XTZ Tokenomics hakkında daha fazlasını buradan öğrenin!
Birim Protokolü (DUCK) nedir? Makale, Birim Protokolü (DUCK) kripto para birimi hakkında en yararlı bilgileri size sağlar.
Quantstamp (QSP) nedir? Makale, sanal para birimi Quantstamp (QSP) hakkında sizin için gerekli ve faydalı tüm bilgileri sağlar.
Flamingo (FLM) nedir? Bu makale size Flamingo (FLM) kripto para birimi hakkında önemli ve faydalı bilgiler sağlar.
Vicuta zemini nedir? Vicuta, çeşitli altcoinleri düşük maliyetle alıp satmayı destekleyen bir Vietnam borsasıdır. Vicuta zemin kılavuzuna buradan bakın!
Blockcloud (BLOC) nedir? Makale size Blockcloud projesi ve BLOC Token hakkında en ayrıntılı bilgileri verir.
