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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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23874909 No.23874909 [Reply] [Original]

Can someone tell me what the fuck DeFi is? I've been ignoring these threads for the past couple months now because I just assumed they're dumb scams, but some guy shilled some shit called XFII here yesterday when it was at $8. Today I remembered it and decided to check it again for shits and giggles and it's at fucking $25. What the fuck does this shit even do and why do all these shit.finance coins pump like crazy? Someone please redpill me.

>> No.23874930

Gonna second this because if two people are dumb, they do not look as dumb anymore. Someone explain please.

>> No.23874969

DeFi is Decentralized Finance. It started as a test bed for shitcoins, and is slowly morphing into a financial ecosystem for blockchain stuff as a whole. Flash loans and yield farming originated here, to my knowledge, and you can absolutely make money there.

>> No.23876242

>>23874909
Learn about stablecoin loans and BAL pools first.

>> No.23876286
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23876286

>>23874909
its a set of financial instruments that can be used together very easily
the defi ecosystem is very big
to see popular defi projects use https://defipulse.com
to see defi metrics there's https://merv.tech

>> No.23876355

>>23874909
OK so you know sites like Binance coinbase Poloniex BITTREX etc?
Imagine that but without needing to trust a guy to run it and not taking all your crypto

>> No.23877490

basically, go on uniswap and buy these 2 tokens
statera (sta)
momentum (xmm)
buy as much as you possibly can, and youll be rich in 6 months, you're welcome

>> No.23877820
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23877820

just buy AAVE

how hard is that?

>> No.23877897

We've reached the pinnacle of DeFi with ReSupply. Nothing else matters at this point.

>> No.23877991

>>23874909
Defi is basically just a bunch of interoperable Ethereum app. Best way to learn is to use them

start with app.aave.com