DeFi For Dummies
- Length: 336 pages
- Edition: 1
- Language: English
- Publisher: For Dummies
- Publication Date: 2022-12-28
- ISBN-10: 1119906806
- ISBN-13: 9781119906803
- Sales Rank: #1118796 (See Top 100 Books)
Get to know the building blocks of a new economy
The promise of decentralized finance (DeFi for those up on their financial lingo) as a disruptor to financial institutions makes it must-know for anyone involved in finance. DeFi For Dummies provides an easy-to-understand option for unraveling the past, present, and future of DeFi. Understand current DeFi applications, including how to build basic applications on the leading platforms, and get a look into the future’s most promising new DeFi solutions. Staying ahead of the game is critical for finance professionals these days, and this Dummies guide makes it possible, with full coverage of how DeFi affects asset management, lending and borrowing, and investment markets. Wrap your mind around DeFi and start getting hands on, the Dummies way.
- Learn how the DeFi revolution started and where it’s going
- Get insight into opportunities for getting started and building value with DeFi
- Discover the leading assets, exchanges, and marketplaces built on DeFi principles
- Create secure DeFi applications on established platforms
This book is great for current pros or active investors in the world of finance who need to get up to speed on the world of DeFi as quickly and clearly as possible.
Title Page Copyright Page Table of Contents Introduction About This Book Foolish Assumptions Icons Used in This Book Beyond the Book Where to Go from Here Part 1 Getting Started with DeFi Chapter 1 Introducing Decentralized Finance Demystifying DeFi From autonomous collectives to trillion-dollar DAOs Transacting in DeFi versus CeFi Borrowing assets Selling assets Dispelling harmful DeFi myths Going Full Circle: The DeFi-CeFi Infinity Loop Safeguarding wealth Transferring funds Continuing the cycle Deciding to DeFi or Not to DeFi Acknowledging inherent deficiencies in DeFi Recognizing CeFi problems that migrate into DeFi Identifying hurdles to adoption Contemplating the Future of DeFi The potential amazingness of seemingly unimportant applications Can we completely replace CeFi? Proceeding on Your DeFi Journey Chapter 2 Discovering the DeFi Lingo Introducing Key DeFi Terms Moving into the Web3 era Going the way of a DAO Characterizing blockchains and consensus protocols Describing cryptocurrencies and NFTs Defining smart contracts and dApps Getting acquainted with L1, L2, and the EVM Grasping important metrics: Market cap, volume, and TVL Knowing Important Distinctions Custodial versus noncustodial On-chain versus off-chain Chapter 3 Dabbling in DeFi: Getting Your Hands Dirty Setting Up Your Wallet Unmasking MetaMask Installing MetaMask Setting up MetaMask Renaming your account Working with MetaMask on your mobile device Installing MetaMask on your mobile device Getting around in MetaMask on your mobile device Funding Your Account Getting (Real) ETH Getting test ETH Chapter 4 Making Your First DeFi Transactions Decentralized Lending Decentralized Borrowing Executing a Trade on a Decentralized Exchange Unwinding and Closing Out Part 2 Diving into the Burgeoning DeFi Space Chapter 5 Decentralized Assets Understanding Native Tokens Exploring Non-Native Tokens Stablecoins Wrapped tokens Governance tokens Security tokens Meme coins Differentiating Non-Fungible Tokens (NFTs) Chapter 6 Decentralized Exchanges and Marketplaces Understanding Liquidity Providers and Order Books Distinguishing between Custodial and Noncustodial Exchanges Exploring DEXs Decentralized order books Automated market makers Understanding the constant product market maker Growing and shrinking an existing liquidity pool Paying up versus getting paid Acknowledging limitations Hybrid liquidity and aggregators Navigating Marketplaces for Non-Fungible Goods Chapter 7 Decentralized Lending and Borrowing Making a Collateralized Loan Understanding the Compound lending protocol Revisiting DAI: A collateralized loan turned stablecoin Using price feeds: What is the collateral worth? Implementing a Flash Loan A tale of two CEXs: Arbitraging without flash loans Scenario Scenario A tale of two DEXs: Arbitraging with flash loans Noting the caveats: The steep price of failure Manipulating markets (the dark side of flash loans) Chapter 8 Decentralized Metaverses Introducing Decentralized Virtual Economies Paving the way for real-world possibilities Discovering decentralized metaverses Experiencing Decentraland Exploring the Metaverse Part 3 Developing Your Own DApp: A Step-by-Step Guide Chapter 9 DeFi Building Blocks Introducing Public Blockchains Grasping the importance of a native token Understanding key pairs and digital signatures Touching on other types of distributed ledgers Explaining Consensus Mechanisms Proof of Work (PoW) Proof of Stake (PoS) Proof of XYZ Following a Day (or a Second) in the Life of a Transaction Determining transaction fees Understanding transaction times Tracing the journey of a transaction Streamlining the Development Process Leveraging smart-contract libraries Oracles: A Blockchain’s Divine Access to the Outside World Chapter 10 Smart-Contract Platforms Diving into Layer 1: Comparing Base Protocols Bitcoin Ethereum Ethereum Classic Binance Smart Chain Other EVM-Compatible Networks TRON Flow Cardano Solana Floating Up to Layer 2: Off-Chain Scaling Solutions State channels Plasma chains and sidechains Rollups Fraud proofs versus validity proofs Crossing Cross-Chain Bridges Chapter 11 Launching a Smart Contract on Ethereum Understanding Smart Contracts The birth of a smart contract Contract accounts versus “regular” (externally owned) accounts Smart-contract languages Anatomy of a smart contract Variables Functions Events Multiple inheritance: Can you have three or more parents? Launching Your Smart Contract Using the Remix IDE Entering your code Code, uninterrupted The play-by-play guide Compiling your code Pre-launch preparations Deploying your code Accessing Your Smart Contract Following your smart contract on a block explorer Interacting with your smart contract Sending funds to your contract account Withdrawing funds from your contract account Allowing others to interact with your smart contract Chapter 12 Launching a Smart Contract on the Binance Smart Chain Testing the Waters: How to Navigate the BSC Testnet Configuring MetaMask Launching your smart contract Accessing your smart contract Feeling Ready for Mainnet? Deploying onto Other EVM-Compatible Platforms Avalanche Polygon Cronos Fantom Arbitrum Huobi ECO (HECO) Celo Chapter 13 Launching Your First DeFi Product Proving Your Proof of Concept Identifying the market pain Assessing the competition Solidifying the value proposition Preparing Your Development Stack Setting up necessary accounts Setting up necessary IDEs Implementing the Back End of Your DApp Entering your code Code, uninterrupted The play-by-play guide Deploying your Crowdfund contract Following your Crowdfund contract Funding Crowdfund Verifying your Crowdfund contract Creating the Front-End User Interface Integrating the friendlier front end with the (less friendly) back end Nurturing your dApp Part 4 The Part of Tens Chapter 14 Top Ten DeFi Applications Instadapp (INST) Compound (COMP) PancakeSwap (CAKE) JustLend (JST) Convex Finance (CVX) Curve (CRV) Uniswap (UNI) Aave (AAVE) Lido (LDO) Maker (MKR) Chapter 15 Top Ten Smart-Contract Platforms Optimism (OP) Arbitrum (N/A) Fantom (FTM) Cronos (CRO) Polygon (MATIC) Solana (SOL) Avalanche (AVAX) TRON (TRON) Binance Smart Chain (BNB) Ethereum (ETH) Index EULA
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