Welcome to the DeFi Bible! Here, you'll find all you need to know to understand Decentralised Finance. We hope you enjoy the read! If you know comprehensive ressources documenting items listed there, please feel free to share as comment so I can add them.
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All around the world, decentralised finance enthusiasts are crafting the building blocks of a new financial system, enabled by blockchains and other decentralized ledger technologies. Over the last couple of years, the term DeFi (Decentralised Finance) emerged to describe what is happening on Ethereum.
We're noticing the emergence of financial services that work without intermediaries, in a fully transparent and trustless manner. People from all around the world are now lending and borrowing from one another, without a bank in between them. They can swap tokens, including tokens representing real-world assets such as a house, without intermediaries. Everything happens on-chain, is documented and can be referenced to.
The color of the link is used as a complexity indicator:
Before we dive into the cool stuff, let's make sure you have the basics. Why decentralisation matters? What does it bring? What is money? What's a stablecoin? What are NFTs? If you can't answer one of these questions, the following articles are probably worth the read:
Why Decentralization Matters? A 15min overview for the layman
Money 101 - Discarding the Myth of Bartering to Better Understand Bitcoin
Is stability a necessity for cryptocurrencies mainstream adoption?