DeFi Primer — Canadian guide to DeFi

Decentralized Finance (DeFi), is an alternative financial network recreating traditional financial products with higher degrees of efficiency. To help Canadians understand this ecosystem which has recently crossed $1 billion in managed assets, we begin today with the DeFi Primer series to cover the basics on how to get started with DeFi. Our series will focus on the Ethereum DeFi ecosystem, arguably the largest and most mature DeFi platform.

This post will serve as your table of content as we explore the DeFi world together. Chapters and terminology explanations will be updated as new ones are published.

Chapter 1: How to save with DSR

Chapter 2: …

Chapter 3: …

Glossary

Stablecoins are price-stable cryptocurrencies whose value is pegged to a traditional currency like the US Dollar. Stablecoins are the cornerstone of DeFi not only due to its price stability, but also its fungibility.

Dai is a stablecoin soft-pegged to the US dollar. Unlike other stablecoins, Dai has its value backed by other cryptocurrencies such as Ether, and maintains its peg through different economic levers.

DSR or Dai Savings Rate is one of the economic levers to maintain Dai’s soft-peg. DSR provides interest to Dai deposits.

About PayTrie

PayTrie is Canada’s premier stablecoin gateway enabling you to get started exploring the world of DeFi. With our low 1% all inclusive, no hidden fee, ultra fast transfer, and quick KYC, you can get started today for free.

Disclaimer: This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. Charts, graphs and references to any digital assets are for informational and illustrative purposes only. The content speaks only as of the date indicated.