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 $sXAG (Synthetic Gold) instead, which behaves like the underlying asset by tracking its price using data oracles such as Chainlink.

What is DeFi?

DeFi brings financial services to blockchains like Ethereum.
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).
  • Anyone can participate in DeFi by becoming a member of one of the DAOs which govern decentralized applications. A web3 wallet and an internet connection are all that's needed.
For help accessing and setting up a web3 wallet -> How to setup MetaMask guide.