Introduction
What does DeFi accomplish?
What are Synthetic Asset
A synthetic asset is a tokenized derivative that mimics the value of another asset. Using a synthetic, you can trade $sAMZN (Synthetic AMAZON) instead, which behaves like the underlying asset by tracking its price using data oracles such as Chainlink.
What is DeFi?
Decentralized finance (DeFi) is an emerging financial technology built atop the cryptocurrency industry that brings financial services to blockchains like Ethereum and many others.
DeFi creates fair financial tools that anyone can utilize so long an internet connection is available. DeFi supports tools only banks could make available in the past; users can trade derivatives, options, borrow/lend funds.
Benefits of DeFi?
- Assets are free to be transferred anywhere at any time.
- DeFi transactions 100% on-chain (transparent).
- You don’t need a basket of self-identifying information to participate.
- Anyone can participate in DeFi. A web3 wallet and an internet connection are all that's needed.
Last modified 4mo ago
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