디파이의 이해 탈중앙화 금융의 미래

### 디파이 살펴보기: 금융의 미래인가, 아니면 그저 과대광고인가?
* 🔍 탈중앙화 금융, 즉 디파이는 **은행과 같은 신뢰할 수 있는 중개자가 필요 없는 개방형 금융 시스템**을 구축하기 위한 움직임입니다.
* 🔗 이 생태계는 탈중앙 금융 애플리케이션의 기본 요소인 **암호화, 블록체인 기술, 스마트 콘트랙트**에 의존합니다.
* 💻 대부분의 탈중앙 금융 프로젝트는 **고급 스마트 콘트랙트 생성을 지원하는 강력한 프로그래밍 언어인 솔리디티**로 인해 이더리움에 구축됩니다.
* 🏦 디파이의 선구자 중 하나인 메이커다오는 **2015년에 설립**되었으며, 사용자가 담보를 고정하고 **스테이블코인 다이(DAI)를 생성**하여 전통적인 대출 및 대출 시스템을 모방할 수 있습니다.
* 📈 그 밖의 주요 DeFi 프로젝트로는 **컴파운드와 에이브**가 있으며, 컴파운드는 **현재 약 6억 3천만 달러의 자산**을 보유하며 **대출 프로토콜의 빠른 성장**을 보여주고 있습니다.
* 💱 또한 탈중앙 금융은 **스테이블코인, 탈중앙 거래소(DEX), 파생상품, 마진 거래, 보험 등 다양한 구성 요소**를 포함하며 각각 종합적인 금융 생태계에 기여하고 있습니다.
* ⚠ 하지만 스마트 컨트랙트 버그와 시스템 취약성 등의 위험이 존재하기 때문에 **고위험 고보상 환경에서 활동하는 사용자에게는 실사와 잠재적 보험**이 필요합니다.
* 🌐 궁극적으로 디파이는 구식 시스템이 아닌 **혁신적인 기술에 기반한 비허가형 오픈 소스 솔루션**을 제공함으로써 기존 금융을 혁신할 수 있는 잠재력을 가지고 있습니다.

탈중앙화 금융(DeFi)은 블록체인 기술을 기반으로 구축된 개방형 무허가 금융 시스템을 제공합니다.

Have you ever heard about DeFi before? Are DeFi apps the ultimate killer apps in the crypto space, or just new hype? No matter if you've never heard about DeFi before or you want to make sure you understand it right, this video is for you. DeFi, or decentralized finance, is a

movement that aims at making a new financial system that is open to everyone and doesn't require trusting intermediaries like banks. To achieve that, DeFi relies heavily on cryptography, blockchain, and smart contracts. Smart contracts are the main building blocks of DeFi. If you don't know what smart

contracts are, or you want to refresh your knowledge, you can pause this video and watch my introduction to smart contracts video first. It's worth noticing that currently, most—if not pretty much all—of the DeFi projects are built on Ethereum. The main reason for this is Ethereum's fairly robust

programming language called Solidity, that allows for writing advanced smart contracts that can contain all the necessary logic for the DeFi applications. Besides that, Ethereum has the most developed ecosystem across all the smart contract platforms, with thousands of developers building new applications every day and the most value locked in

smart contracts, which creates an additional network effect. In fact, all the DeFi protocols mentioned in this video are built on Ethereum. Now let's see how it all started. One of the first projects that started the decentralized finance movement was MakerDAO. MakerDAO, founded in 2015, allows users to lock in

collateral, such as ETH, and generate DAI, a stablecoin that, by using certain incentives, follows the price of the U.S. dollar. DAI can be also used for saving on Maker's Oasis platform. This recreates one of the pillars of the financial system: lending and borrowing. In fact, DeFi is

Trying to create a whole new financial ecosystem in a permissionless and open way. Lending and borrowing is only one part of this ecosystem; some other important parts are stablecoins, decentralized exchanges, derivatives, margin trading, and insurance. Let's talk

about each of these categories one by one. Besides MakerDAO, which we just mentioned, there are a few other important DeFi products in this category. The main one is Compound. Compound, at the time of creating this video, is the biggest DeFi project in the lending category with

around six hundred and thirty million dollars worth of assets locked in the protocol. Compound is an algorithmic, autonomous interest rate protocol that allows users to supply assets like ETH, BAT, ZRX, or Tether and start making interest. Supplied assets can also act as collateral for borrowing other assets.

Another popular DeFi project in this category is Aave. With clever use of smart contracts and certain incentives, we can create a stablecoin that is pegged to the U.S. dollar without having to store dollars in the real world. We already mentioned MakerDAO, that

essentially allows users to lock in their collateral and generate DAI. DAI is a good example of an algorithmic stablecoin. Besides DAI, there are multiple other non-algorithmic stablecoins like USDC, USDT, or PAX. The main problem with them is the fact that they

are centralized, as there is a company behind them that is responsible for holding the equivalent value of the stablecoins in US dollars or other assets. Nevertheless, these stablecoins gained a lot of popularity and are extensively used in DeFi applications like Compound or other decentralized exchanges or

DEXs, in opposition to standard, centralized crypto exchanges, allow for exchanging crypto assets in a completely decentralized and permissionless way without giving up custody of the coins. There are two main types of DEXs: liquidity pool-based and order book-based. A few examples of liquidity pool-based DEXs are Uniswap, Kyber, Balancer, and Bancor/Loopring.

Order book-based DEXs are examples of the order book based ones. Similarly to traditional finance, derivatives are contracts that derive their value from the performance of an underlying asset. The main DeFi application in this space is Synthetix, a decentralized platform that provides on-chain exposure to different assets.

Margin trading, also similar to traditional finance, is the practice of using borrowed funds to increase a position in a certain asset. The main DeFi apps in the margin trading space are dYdX and FTX.

Insurance is yet another part of traditional finance that can be reproduced in decentralized finance. It provides certain guarantees of compensation in return for a payment of a premium. One of the most popular applications of insurance in the DeFi space is protection against smart contract failures and protection of deposits.

The most popular DeFi projects in this space are Nexus Mutual and Opensea. Another really important, although not strictly limited to finance, part of the DeFi ecosystem is oracle services, which focus on delivering reliable data feeds from the outside world into smart contracts.

The most popular project in this space is Chainlink. These are pretty much all the main parts of the DeFi ecosystem. They can also be combined together in multiple various ways; we can think about them as Legos, as more complicated DeFi products can be built.

On top of the existing blocks, let's compare the main differences between DeFi and CeFi, which stand for decentralized or traditional finance. But before we do that, if you've already made it this far, don't forget to smash the like button to help this channel grow. DeFi:

permissionless, no KYC, no sanctions; DeFi open, open-source, encouraging free collaboration. CeFi: closed, closed-source, decisions made behind closed doors. DeFi: censorship-resistant. CeFi: can be censored. DeFi: cheaper (mostly network fees). CeFi:

expensive intermediaries charging hefty fees. DeFi: built on the blockchain. CeFi: built on old foundations. Before we wrap up this video, we have to also mention the potential risks associated with DeFi. One of the main risks are bugs in smart contracts and protocol changes

that can affect existing contracts. We describe them in more detail in the previous video about smart contracts. This is also when users can take additional insurance to lower the risk of potential issues. Besides that, we always have to check how decentralized a DeFi project really is and what is the

shutdown procedure if something goes wrong. Does someone have an admin key that can be used to shut down the protocol? Or maybe there is some untransparent governance in place to make such a decision? On top of that, we have to always account for the more systemic risk that can be

caused by, for example, asset prices sharply losing their value, which may result in a cascade of liquidations across multiple DeFi protocols. Network fees and congestion can also be a problem, especially if you want to avoid liquidations, and we are trying to...

Say, supply more collateral on time. Upcoming Ethereum 2.0 and second-layer scaling solutions can help solve this problem. There is also a set of more subtle features or changes that, applied to one protocol, may incentivize users to certain non-obvious actions

that can cascade across multiple protocols. A good example of something like that would be a recent distribution of COMP tokens in the Compound protocol that caused users to engage in what seemed to be non-profitable, high-interest borrowing that was actually profitable due to being rewarded in the additional COMP tokens. Even though situations like

that can be quite dangerous, they make the whole ecosystem stronger and less vulnerable to similar situations in the future. As you probably already noticed, DeFi is a super interesting and vibrant space that is full of opportunities, although we have to remember that this is still a very nascent industry.

So it's a high-risk, high-reward game. DeFi is the closest thing that can actually disrupt the traditional financial industry. Opposite to most of the same tech companies, DeFi is built on new rails instead of relying on outdated technologies and procedures. Currently, most financial products

can be created only by banks. DeFi is open, permissionless, and enables cooperative work in a similar way to the internet. Although DeFi is currently built predominantly on Ethereum, with more adoption of interoperability protocols, we may see more projects being built on

different chains in the future. This was only an introduction to DeFi. In the following videos, we'll be focusing on each part of the DeFi ecosystem separately, so stay tuned and subscribe to the channel. If you find this video informative, hit the like button and don't forget to subscribe if you're

Interested in DeFi, crypto, and financial technology. Thanks for watching.

What is DEFI? Decentralized Finance Explained (Ethereum, MakerDAO, Compound, Uniswap, Kyber)

Finematics

탈중앙화 금융(DeFi)의 정의와 중개자 없는 개방형 금융 시스템을 만들겠다는 목표에 대해 알아보세요.

탈중앙 금융의 구성 요소인 스마트 컨트랙트와 그 중요성에 대해 설명합니다.

솔리디티와 그 생태계로 인한 탈중앙 금융 개발에서 이더리움의 역할.

메이커다오는 최초의 탈중앙 금융 프로젝트 중 하나로, 담보물 잠금과 DAI 스테이블코인 생성을 가능하게 합니다.

탈중앙 금융은 대출, 대출, 스테이블코인, 거래소, 파생상품, 마진 거래, 보험을 아우르는 새로운 금융 생태계를 만드는 것을 목표로 합니다.

탈중앙화 금융 생태계 내 주요 카테고리

Compound 및 Aave와 같은 대출 및 대여 플랫폼.

알고리즘 스테이블코인(예: DAI) 및 중앙화된 스테이블코인(예: USDC, USDT).

유니스왑 등의 탈중앙화 거래소(DEX)는 유동성 풀 기반과 오더북 기반으로 분류됩니다.

Synthetix와 같은 파생상품 플랫폼.

dYdX 및 FTX와 같은 마진 거래 플랫폼.

넥서스 뮤추얼과 같은 보험 플랫폼은 스마트 계약 실패에 대한 보호 기능을 제공합니다.

신뢰할 수 있는 데이터 피드를 제공하는 체인링크와 같은 오라클 서비스.

탈중앙 금융과 중앙화된 금융(CeFi)의 비교

DeFi의 비허가형 오픈소스 특성과 CeFi의 폐쇄적이고 중앙화된 시스템을 대조해 보세요.

스마트 컨트랙트 버그 및 프로토콜 변경을 포함하여 DeFi와 관련된 위험에 대해 논의합니다.

자산 가격 변동성 및 잠재적인 연쇄 청산으로 인한 시스템적 위험.

특정 프로토콜 변경으로 인한 미묘한 위험과 의도하지 않은 결과에 대해 논의합니다.

잠재력이 큰 고위험, 고수익 분야로서의 탈중앙 금융에 대한 요약입니다.

개방형 무허가 시스템을 통해 기존 금융 산업을 혁신할 수 있는 디파이의 잠재력.

현재 탈중앙 금융에서 이더리움의 지배력과 향후 다른 블록체인으로의 확장 가능성.

향후 특정 DeFi 생태계 구성 요소에 초점을 맞춘 동영상을 발표할 예정입니다.