Decentralized Finance 101 (Clemson X Encode)

This past Friday, Feb 4th the Clemson Cryptocurrency Club hosted Anthony Beaumont and Anupam Sivram of the Encode Club, for a 101 session on Decentralized Finance!

— — — > Below you can find some of our talking points:

• The history of money and how gold lacks the utility to be useful in the digital world.
• A broad overview of Blockchain and distributed ledgers as a means of storing data in a permissionless, trustless, and decentralized manner.
• What exactly is decentralized finance and how is defi different from our current financial system.
• We defined Dapps and Daos and looked at some fundamental protocols within decentralized finance.
• We talked about the role of decentralized exchanges (Dex’s) and defined liquidity pools. More specifically we looked at Uniswap and 1inch.
• Viewed lending and borrowing protocol compound (Comp). We talked about the importance of over-collateralizing defi loans and the manner in which comp achieves this.
• We also talked about Yield farming/liquidity mining and the importance of Yearn Finance and the role it plays within defi as a Yield aggregator.
• To wrap up the session, we had a Q&A where the audience asked questions about the role of centralized exchanges within cryptocurrency, as well as opinions about the role of Polygon once Eth 2.0 is complete.
• Re-watch the video on Youtube! https://www.youtube.com/watch?v=MiksxrEnZUQ
• Stay tuned for our next 101 event!