The DeFi landscape is dotted with platforms that have taken the concept and run with it each bringing its own unique flavor to the table One standout platform is MakerDAO At its heart MakerDAO is a decentralized credit platform on Ethereum Users can lock up their Ethereum as collateral to mint a stablecoin called DAI What's fascinating about DAI is that it's pegged to the US dollar offering stability in the often turbulent crypto market The entire system is governed by smart contracts ensuring transparency and fairness Then there's Compound another trailblazer in the DeFi lending space Compound allows users to lend and borrow a variety of crypto assets When you supply assets to Compound you earn interest Conversely if you're borrowing you'll pay interest #DeFiBasics #MakerDAOExplained #CompoundGuide #EthereumPlatforms #DAIStablecoin #CryptoLendingAndBorrowing #DeFiInterest #SmartContracts #DeFiTransparency #CryptoInnovations #shorts
Via https://www.youtube.com/watch?v=GTSyoSqMVeU
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