Category: 1. Getting started with DEFI

We’ve already touched upon the importance of using tried and tested Defi protocols, whose code is less susceptible to vulnerabilities. Here are additional steps you can take to reduce the risk of suffering loss of funds, and to protect your crypto assets. Consider Insurance Just as you can take out travel insurance before going on…

Interacting with defi protocols requires a compatible web wallet such as MetaMask. After visiting the web app of the protocol in question, such as Yearn Finance, you will be prompted to connect your MetaMask wallet to the site by clicking the verification message that pops up. Thereafter, any time you wish to interact with the Defi…

Decentralised finance has around a dozen well established protocols that can be regarded as the “big banks” of Defi. The difference, of course, is that you don’t have to custody your funds with these projects, as you would when depositing assets into a bank account: rather, a Smart Contract controls the whole process. Provided the…

While tradfi APYs have trended towards zero (some banks even now provide negative interest on savings), Defi offers double or even triple-digit percentage returns.  The attraction is obvious: who wouldn’t want to double their money in a year simply through locking it into a decentralised finance protocol and letting time take care of the rest?…

What you’ll learn What DEFI is What you can do with DEFI The practical steps involved for the main DEFI functions The risks & drawbacks In its basic form, Decentralised Finance (Defi), gives you access to a range of financial services, from the simple kind that would normally be provided by your high street bank,…