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Cryptoeconomics is booming today, bringing new solutions to our lives in various industries and accelerating business processes through . Integrating such a technology with real-world applications is a significant step toward mass adoption and acceptance by governments and financial structures. One result of this integration is the technology of decentralized finances, or DeFi, which is transforming the financial sector by limiting the influence of third parties on digital transactions by eliminating intermediaries. blockchain technology What is DeFI and Why Should You Care About It in 2023 DeFi is financial instruments in the form of services and applications based on blockchain technology. The main task of decentralized finance is to become an alternative to the banking sector and replace the traditional technologies of the current financial system with open-source protocols. That is, to give many people access to decentralized lending and new investment platforms and allow them to receive passive income from cryptocurrency assets and save on fees for transfers, loans, and deposits. DeFi stands for decentralized finance, which uses a blockchain network to enable customers to access financial products and services without intermediaries such as central banks and bodies. DeFi was first launched on the Ethereum (ETH) blockchain, an open-source smart contract platform to facilitate the creation of decentralized applications. Ethereum provided the right platform for DeFi's success, and developers widely used the protocol as a robust platform for creating financial services to disrupt the traditional sector. DeFi is emerging as a better alternative to traditional financials without intermediaries to offer a less trusted, cheaper, and more secure system for transferring monetary assets. The advantage of DeFi centers around the use of a blockchain network that provides the technical means for secure transactions (all transaction terms are spelled out in a smart contract)  without a third (trusted) party. Secondly, DeFi offers the opportunity to go beyond financial transactions and create an innovative and dynamic world of real-life applications, including decentralized exchanges, stablecoins, lending and borrowing platforms, and farming. DeFi is used to access blockchain-based financial services, meaning cryptocurrency owners can borrow, lend, earn interest, or trade-in perpetuity without needing a third party. While lending and borrowing are part of the functionality of decentralized financing, individuals can transact tokens through decentralized exchanges or DEX. The total market value of DeFi projects over its history in November 2021 showed an incredibly high value exceeding the $180 billion mark, an all-time high. The Top 5 Most Promising DeFI Projects in 2023 Today, there are an incredible number of DeFi initiatives aimed at revolutionizing the field of decentralized finance, which is evolving at the same rate as other innovations based on distributed ledger technology. Let's take a look at the 5 most promising DeFi projects worth paying attention to in 2023. Compound Compound Finance is a protocol that allows you to borrow and lend cryptocurrency assets without intermediaries. This is one of the most effective ways to circulate your investments, so they stay active in your wallet and the exchange. Any holder of a supported cryptocurrency can deposit it into a composite smart contract, where it will join the and start generating interest. Interest income comes from other users who borrow funds and pay interest on loans. However, there is one caveat. It looked the same as the bank does with the money. But in the bank, as soon as the funds are withdrawn, they cease to bear interest. liquidity pool When funds are deposited, the Compound protocol generates tokens called cTokens. These tokens can then be used as collateral for a loan, meaning the funds can be spent while they earn interest. Thus, if Ethereum (ETH) is deposited in Compound, then an equivalent amount of cETH will be received. Compound's main smart contracts determine the amount of interest earned, which operates based on supply and demand. If many people want to borrow a specific asset, the smart contract increases the interest rate to attract lenders and make the loan more expensive. Compound currently supports nine assets issued on Ethereum, including Tether (USDT), Dai, Wrapped Bitcoin (WBTC), and Basic Attention Token (BAT). MakerDAO It is an Ethereum-based smart contract platform that allows the issuance of DAI Stablecoin secured against cryptocurrencies and real assets. The platform is in first place among DeFi-protocols of the Ethereum ecosystem by the volume of locked liquidity (~$5.8 billion at the end of January 2023). A key advantage of DAI is that it is not run by a private company but by MakerDAO, a decentralized autonomous organization over a software protocol. As a result, all token issuance and burning are managed and publicly recorded using Ethereum-based self-sufficient smart contracts, making the entire system more transparent and less susceptible to corruption. One of the main uses of DAI is stable hedging - that is, insuring against risks from rate jumps of more popular crypto-assets like Ethereum or Bitcoin. DAI's stable price means the token is suitable for investors or traders who think the market is about to fall. Because DAI is stable, it is also one of the ideal . crypto-assets for payments Synthetix Synthetix is an Ethereum-based derivatives liquidity protocol that allows synthetic assets to be issued and traded. Each synthetic asset (or Synth) is an ERC20 token that tracks the price of an external asset; for example, each sUSD token tracks the price of the US dollar and is fixed at 1. Synthetix has many synthetics, including fiat currencies, cryptocurrencies, commodities, and inverse indices. The system can support any asset with a clear price and provides chain access to an unlimited range of real assets. The protocol will provide many trading functions, including binary options, futures, and more. Synthetix consists of a smart contract infrastructure and incentives that support synthetic asset prices. At the heart of this is the value of the Synthetix Network Token (SNX). SNX acts as collateral; The minting of any synthetic asset requires a proportional SNX value lock. Thus, the value of SNX is directly related to the use of the network it provides. To support the system, participants are rewarded with a proportional share of the commission fees arising from activities in the system. AAVE AAVE is the largest decentralized money-market protocol, built on Ethereum and deployed in 6 different Tier 1 and Tier 2 networks. It allows users to deliver and borrow a wide range of crypto assets in a secure, permission-free environment. Users are divided into borrowers and lenders. Lenders contribute assets to the liquidity pool and begin to earn interest proportional to the interest rate of the asset supply. For example, by providing USDT Stablecoin as liquidity, interest on it will also be charged in USDT. For a borrower to take the right asset from the liquidity pool, he needs to leave some assets as collateral. You should always leave more than the loan amount as collateral - this over-collateralization allows AAVE to remain solvent. AAVE works by allowing users to supply assets and borrow against them. Users can contribute their cryptocurrency assets to the AAVE protocol, becoming a liquidity provider and receiving interest in exchange for providing funding. Borrowers can use their cryptocurrency assets as collateral, obtaining loans denominated in ETH or stablecoins such as USDC or DAI. Uniswap Uniswap is a decentralized exchange (DEX) launched in 2018. Operations available on the exchange include cryptocurrency exchanges, currency collateral for , and liquidity pools. The registration process is completely anonymous, and no personal user information is required. staking The platform is built on the Ethereum blockchain. There are over 170 tokens available on Uniswap. You can connect additional lists to the exchange and exchange almost six thousand coins. The exchange fee depends on the load on the Ethereum networks. Users place their funds in pools, providing liquidity on the exchange and getting rewarded for it. The UNI token is the native cryptocurrency of the Uniswap decentralized exchange. It was launched in September 2020 and is used to manage the Uniswap protocol and power its various features. UNI token holders can participate in the platform's governance by voting on proposals to update or improve the Uniswap protocol. They can also earn rewards for providing liquidity to the Uniswap platform and use the token to pay transaction fees on the exchange. How to Get Involved in The DeFI Ecosystem The field of decentralized finance today brings together many areas of blockchain technology development, which can significantly simplify the processes of borrowing, lending, and transactions with various cryptocurrencies, tokens, and stablecoins, as well as using insurance services, issuing tokenized securities, and much more. To get involved in developing this promising area, you need to understand which of the many innovative areas you like best. Among the most popular are the following: Deposits & Loans (Lending Platforms) In the traditional financial system, money is provided to borrowers by lending bodies. Lending protocols (or DeFi lending protocols) allow users to borrow cryptocurrency in decentralized finance (DeFi). DeFi protocols allow peer-to-peer (P2P) lending between network members. This eliminates the need for intermediaries. The interest rates offered on such cryptocurrency platforms are much nicer compared to traditional banking bodies. The interest rate is usually influenced by different factors - what kind of cryptocurrency you hold, how much, and how long you're willing to lock it up for. Depending on the platform, the interest paid for holding cryptocurrency varies, but you can get up to 18% in some cases. Derivative Contracts/Synthetic Assets Derivatives are special contracts whose value is determined by the value of underlying assets - cryptocurrencies, indices, stocks, commodities, bonds, etc. Derivatives are used by traders to hedge transaction risks. Derivatives are now traded mainly on centralized platforms, but DeFi-platforms are already appearing for this purpose. They are protocols for synthetic assets that track the value of the underlying assets and allow access to them without purchasing them. Stablecoins Stablecoins are cryptocurrencies whose exchange rate is always equal to fiat currency. They were created to mitigate the high volatility of digital currencies, which can reach 10% in a single day. One of the first centralized stablecoins was the U.S. dollar-linked Tether (USDT). It is trendy, and yet it has one major drawback - owners have to trust the company issuing the coins that dollar reserves in an appropriate amount actually exist. The Future of DeFI and Where it's Headed Open blockchains are transparent, and with no single supervisory authority over them, they offer a neutral, independent, and tamper-proof infrastructure for financial transactions. Software code is stored and executed in an open system. All data is publicly available and verifiable. This allows researchers and policymakers to analyze transactions, conduct empirical research, and calculate real-time risk indicators. It's easy to envision a move to registries combining payments, tokenized assets, and financial protocols, such as those based on exchanges and credit markets. DeFi is an exemplary example of this trend, but similar changes should be expected in centralized infrastructure. This is because combinability within a single operation is only possible if all assets and financial protocols are in the same registry. In this case, there are powerful network effects. Neither crypto-assets nor central bank digital currencies would have much appeal if they were housed in a registry that did not include other assets or financial protocols. Creating a centralized infrastructure compatible with additional assets and financial protocols is possible. Still, it would be fraught with risk and governance issues due to the inherent characteristics of controlled registries. And this is a strong argument for decentralization, which is the future of DeFi. All of this suggests that DeFi is designed to greatly simplify the interaction of various decentralized financial projects and institutions seeking to expand payment and lending opportunities not only for individual users, but also for businesses, which will greatly simplify, accelerate and optimize the transformation of the economic system. Conclusion The topic of decentralized finance covers numerous different elements, creating hundreds of successful applications in this area today. DeFi projects are also in demand in developed countries, as they offer a more profitable and affordable lending system and open up new opportunities for interest income from investments. At the same time, DeFi protocols in the future make it possible to create an independent infrastructure, reduce the risks inherent in classic financial structures, and can become an alternative to overly centralized solutions, which will help this technology take a strong place in the financial world of the future.

Lenders? DAOs? Traders? Here Are the Most Promising DeFi Projects to Keep an Eye Out On in 2023

prestamistas? ¿DAO? ¿Comerciantes? Aquí están los proyectos DeFi más prometedores para estar atentos en 2023

Prêteurs ? DAO ? Les commerçants? Voici les projets DeFi les plus prometteurs à surveiller en 2023

उधारदाताओं? डीएओ? व्यापारी? यहां 2023 में नज़र रखने के लिए सबसे आशाजनक DeFi प्रोजेक्ट हैं

貸し手？ DAO？トレーダー？ 2023年に注目すべき最も有望なDeFiプロジェクトは次のとおりです

Credores? DAOs? Comerciantes? Aqui estão os projetos DeFi mais promissores para ficar de olho em 2023

Người cho vay? DAO? thương nhân? Đây là những dự án DeFi hứa hẹn nhất cần được chú ý trong năm 2023

贷方？ DAO？贸易商？以下是 2023 年最值得关注的 DeFi 项目

US v. Bankman-Fried, 22-cr-673 Court Filing, Dec 13 2022 is part of . You can jump to any part in this filing . This is part 4 of 9. HackerNoon’s Legal PDF Series here Feature Image: unsplash, prompt “house of cards” COUNT FOUR: Wire Fraud on Lenders The Grand Jury further charges: From at least in or about 2019, up to and including in or about November 2022, in the Southern District of New York and elsewhere, SAMUEL BANKMAN-FRIED, a/k/a "SBF," the defendant, knowingly having devised and intending to devise a scheme and artifice to defraud, and for obtaining money and property by means of false and fraudulent pretenses, representations and promises, transmitted and caused to be transmitted by means of wire, radio, and television communication in interstate and foreign commerce, writings, signs, signals, pictures, and sounds for the purpose of executing such scheme and artifice, to wit, BANKMAN-FRIED, along with others, engaged in a scheme to defraud lenders to Alameda Research, BANKMAN-FRIED's proprietary crypto hedge fund, by providing false and misleading information to those lenders regarding Alameda Research's financial condition. (Title 18, United States Code, Sections 1343 and 2.) Continue Reading Here About We bring you the most important technical and insightful public domain court case filings. HackerNoon Legal PDF Series: This court case (US v. Bankman-Fried, 22-cr-673 (Abrams), on Dec 15 2022) is part of the public domain. The court-created documents provided by PACER are works of the federal government, and under , are automatically placed in the public domain and may be shared without legal restriction. retrieved copyright law

SBF et al 'engaged in a scheme' to defraud Alameda lenders, per criminal charges 

SBF y otros 'participaron en un esquema' para defraudar a los prestamistas de Alameda, por cargos penales

SBF et al "se sont engagés dans un stratagème" pour frauder les prêteurs d'Alameda, par accusation criminelle

SBF et al 'एक योजना में लगे हुए हैं', आपराधिक आरोपों के अनुसार अल्मेडा ऋणदाताओं को धोखा देने के लिए

SBF らは、刑事告発により、アラメダの貸し手を詐欺する「計画に関与」した

SBF e outros 'envolvidos em um esquema' para fraudar os credores da Alameda, por acusações criminais

SBF và cộng sự 'tham gia vào một kế hoạch' để lừa đảo những người cho vay ở Alameda, theo các cáo buộc hình sự

根据刑事指控，SBF 等人“参与了一项诈骗阿拉米达贷方的计划”

581 Stories To Learn About Non Fiction

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Letters. Personal Records. Dated Notes.

Of the ten Kingdoms represented by the ten horns of the fourth Beast

Understanding the Pros and Cons of Centralized and Decentralized Exchanges . The ability to access these crypto assets, to trade them, and to keep them safe, is a responsibility set that goes well beyond the conventional expectations of an exchange. Some of these fintech pioneers have been rewarded for exploring the crypto world ahead of their peers, while others have ended in complete ruin, unprepared for the dangers of dealing with this new asset class. Now, 10 years after the creation of the first crypto asset, we are still evaluating the risk and rewards associated with exchanges, and particularly, . Crypto exchanges have played a pivotal role in the development of the blockchain industry the pros and cons of centralized and decentralized exchanges Photo by on freestocks.org Unsplash . In the case of centralized exchanges, they operate very similarly to banks and exchanges today: The key difference between centralized and decentralized exchanges (also known as a DEX) is ownership There is an owner There is a safe There are rules and regulations Although this centralized model has existed for centuries, . The concept is only possible with the creation of crypto assets and a transparent, immutable ledger. Using the blockchain to keep track of ownership without a 3rd party, we can create a marketplace for exchanging these assets that operates without permission or oversight. the idea of a decentralized exchange is new There are pros and cons to both models that will influence consumer choices. I personally believe that this can be broken down into 5 distinct areas: Fees Anonymity Ownership Fiat-To-Crypto Liquidity Fees Trading fees is the area that most consumers pay attention to. In traditional, stock trading platforms like TD Ameritrade or E-Trade, customers pay a set “per-trade” fee, but that is different in crypto trading platforms. , making the overall cost of trading crypto much higher than stocks. Decentralized exchanges on the other hand operate very similar to the “per-trade” fee structure we are used to, but in the form of gas. Centralized exchanges charge a % of every transaction Photo by on rawpixel Unsplash When a transaction or trade is ready to be placed You get to choose how much gas you’ll pay; the higher the amount, the faster the confirmation. Today, this gas cost will be much lower than a fee you would pay on E-trade or the % transaction cost you’d pay on Gemini. . on a DEX, you have to pay a gas cost to have that trade confirmed on the blockchain. Gas cost for a trade would range from as low as $0.05-$1 , but they provide more robust tools, and fast confirmation times. A decentralized exchange will be much cheaper in comparison, allowing trades that would potentially cost $1000s to be executed for pennies. The downside is that , and usually the service will not offer the same tool set that a centralized exchange would. The fees of a Centralized exchange are very high trades on DEX will not be confirmed immediately Individuals should have the choice, and more so the right, to partake in finance without any arbitrary restrictions if they so choose Anonymity Anonymity is one of the selling points that makes decentralized exchanges very appealing. (KYC) regulations require users to provide a robust amount of personal information. This can lead to decreased sign-ups and friction in the onboarding process. A as a way to stay compliant with (AML). Know-Your-Customer centralized exchange is required by law to make this information-gathering mandatory Anti-Money Laundering Laws Country Restrictions on BitMEX Decentralized exchanges have no central authority by definition, and thus do not have this requirement imposed on them. . Staying anonymous can be very appealing to certain crypto holders and it is in-line with some of the philosophies around self sovereign wealth. You can signup and start trading without any identification verification Anonymity also provides . for example provides trading with 100x leverage, but residents of the US can’t use the platform. A decentralized exchange like can offer these services. , is focused on giving more access to these kinds of tools, building algorithmic trading bots that are currently only available to large Wall Street trading firms. “Decentralized marketplaces allow users to access financial instruments and tools that they otherwise would not have access to (such as shorting, leverage, and more. Such financial instruments are often out of the reach of the average person, restricted either by wealth and/or jurisdiction. ” access to tools that are not available otherwise BitMEX dYdX Shuvro Biswas, CEO of Cryzen Dapps level the playing field in regards to access to various financial instruments The benefit of knowing who you are is that you can prove you are the owner of an account in the event of losing access or some error that requires issue resolution. The benefit of not knowing who you are is that you can use your money without the loss of privacy and use systems that are not available in your jurisdiction. Ownership Another philosophy that decentralized exchanges reinforce is complete ownership of one’s assets. In centralized exchanges, the ownership of the coins (specifically the private keys) is held by the exchange itself. By holding on to the keys, trade execution is much faster (and can even be automated), because the user doesnt need to provide access to the funds on each trade. Although this can make trading easier, it is the #1 cause of crypto theft. Someone has to be responsible for protecting your wealth, and this has traditionally been delegated to banks and exchanges In 2018, $713 million worth of crypto was stolen, with most of it coming from the . A decentralized exchange can never have this risk, as the assets are always your responsibility. Coincheck exchange hack During the frenzy that was the crypto boom of 2017, . Sometimes a relatively unknown exchange would see a spike in usage and deposits if they were the only providers of a newly issued coin. Raiblocks, (also known as NANO), was listed on only a handful of exchanges, one of which was Italian cryptoexchange BitGrail, . This chasing and FOMO reaction has led to multiple “exit scams”, where a coin or exchange would disappear overnight, along with all investor funding. This is a constant issue with centralized exchanges. people were choosing exchanges not based on track record or security processes, but because of marketing gimmicks which later was hacked _Some came for the tech, some came to make cheese, but most say you gotta hold on to them keys_medium.com Bitcoin gave us 4 freedoms, but I only use 3 It’s this last fact that is poorly represented and commonly misunderstood. This that weren’t previously possible, and also new risks. Major banks have more security than smaller ones and the same goes for crypto exchanges. The largest and most reputable exchanges like and are great examples of exchanges that have not suffered from these types of attacks. new asset class creates new freedoms Someone has to be responsible for protecting your wealth, and this has traditionally been delegated to banks and exchanges. Binance Coinbase _Blockchain security firm CipherTrace recently reported that $731 million worth of cryptocurrencies were stolen from…_www.ccn.com $731 Million Stolen from Crypto Exchanges in 2018: Can Hacks be Prevented? Fiat-to-Crypto On Ramps A “fiat-to-crypto on ramp” is a process that facilitates the conversion of a government issued fiat currency into a crypto-based currency. Centralized exchanges have the advantage of being the first interaction most people have with cryptocurrencies; they are one of the only fiat-to-crypto on ramps. We have yet to see this emerge as a function on a decentralized exchange, and it will take awhile, because fiat ultimately isnt the same as a crypto token. Someone has to provide the dollars or euros for the exchange, and those dollars and euros live in systems that are not blockchains. Stablecoins or Fiat coins could take the place of this eventually, but that first exchange from fiat-to-crypto will still need a central entity. Higher liquidity would lead to faster transactions, more stable prices and therefore more market participants Liquidity Liquidity is one of the major reasons why centralized exchanges have a large lead over decentralized ones. and this leads to easy market-manipulation. A bad actor can influence an exchange with low liquidity by putting in fradulent orders that will not be detected. Although this isn’t a consequence of being decentralized, this might become an ongoing factor if the trust isnt established. Without liquidity, price discovery is difficult to achieve highlights the importance of liquidity not only in exchanges, but in the crypto ecosystem in general. “Liquidity in crypto can be provided by crypto assets backed by traditional assets, aka by bridging crypto and fiat markets. . This would boost general public adoption of blockchain technology and crypto instruments and lead to “maturity” of the industry. While there are discussions around Crypto VS. Fiat worlds, crypto is more of an extension, the next evolution step for financial market as a whole” Catherine Yushina, COO at Zeus.Exchange , Higher liquidity would lead to faster transactions, more stable prices and therefore more market participants It is the combination of liquidity and custodianship that means faster execution. This creates a trading experience akin to trading stocks and equities, making centralized exchanges more appealing to current stock traders. However, the loss of anonymity and trusting a 3rd party with your keys is one of the reasons crypto assets were created in the first place. Deciding what you value and being disciplined with your security is a new option that was previously just not possible. Choosing what’s best for you Photo by on Jon Tyson Unsplash As the world of crypto takes time to mature and develop into a rich ecosystem of applications, . Currently, tokens and coins are primarily used for investment speculation, which means the platforms that give us access to trading them will have the biggest affect on shaping this industry. crypto exchanges will continue to take center stage of which exchange structure is the best to use. You could be extremely comfortable with managing your own crypto key security, but still want access to high frequency algorithmic trading decisions that are only available using centralized exchanges and . Another version could have you valuing your anonymity and keeping your wealth separate from your identity, but don’t want to worry about key security. It is not a clear cut decision tools like Cryzen’s smart bots . You can always hold on to your own keys and then , giving you the ownership security and the liquidity you want. You can also make a Fiat-to-Crypto conversion on a centralized exchange and then move your funds to a decentralized exchange after using a . The best choice will be a combination of responsibility between you and your chosen exchange deposit into a centralized exchange only when you want to complete a trade coin mixer to create a level of anonymity “ in terms of understanding the tool and safeguarding their assets; nonetheless individuals should have the choice, and more so the right, to partake in finance without any arbitrary restrictions if they so choose.” says Shuvro. Decentralization brings us a new world where trustlessness is possible, but . As with all decentralized tools, a greater level of responsibility is required of individuals you’ll still need to trust yourself to be responsible Want more discussion on the merits of Centralized and Decentralized Exchanges? Ethereum Classic Labs is hosting a panel discussion with speakers from LATOKEN , CredoEx, and Zeus Exchange . If you are in the Bay Area, make sure to check out this must-attend event ! _ETC Labs is hosting a Crypto Exchange event focusing on Centralized versus Decentralized exchanges, security…_www.eventbrite.com Buying Cryptocurrencies: Centralized and Decentralized Exchanges Apply for the ETC Labs Accelerator Now! ETC Labs is holding their second cohort accelerator in San Francisco this summer! Applications are open until May 1st. Learn more at https://etclabs.org Thank you for reading and I hope you enjoyed this article Feel free to add me on Linkedin here , follow my twitter there → @xldean , and send me a Telegram . New article ideas are always appreciated!

Trading Crypto: Centralized Vs. Decentralized

Por Qué Todo El Mundo Se Ha Perdido De La Característica Más importante De Las Criptomonedas

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