Summary

Wow, that was a lot to unpack. By now, you should have a good understanding of the DeFi stack. We started with DeFi primitives and helped you understand the concept of native cryptocurrency or tokens, including ETC, ETH, ERC-20, ERC-721 tokens, and stablecoins. We introduced the basic constructs and building blocks in DeFi, including liquidity pools, Oracle, flash loans, exchanges, tokenizations, and composability. We then dived deep into the leading DeFi protocols, including decentralized lending and borrowing, decentralized exchange, as well decentralized derivatives and insurance protocols. We also provided an overview of DeFi aggregators, such as DEX aggregators and yield aggregators.

We briefly touched on the cryptoeconomic perspective of blockchain and the DeFi protocol. We discussed the FTX fiasco and the importance of decentralization in the wake of the FTX collapse. The DeFi movement is a continuum in that it continues to evolve. Smart contracts are the lynchpin...