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What is DeFi?

What is DeFi?

Talk given on 7 April 2022 in Singapore.

Live stream: https://www.youtube.com/watch?v=z29mdjBs4DE

U-Zyn Chua

April 08, 2022
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Transcript

  1. What is


    DeFi?
    https://cakede
    fi
    .com


    @cakede
    fi

    @uzyn
    U-Zyn Chua


    Cake DeFi

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  2. This presentation is intended for educational purposes only and does not replace independent professional
    judgment,
    fi
    nancial advice and/ or legal advice. This presentation is not intended to be a promotion or an
    advertisement of Cake Pte. Ltd.’s services to the general public in Singapore. Statements of fact and
    opinions expressed are those of the participants individually and, unless expressly stated to the contrary,
    are not the opinion or position of Cake Pte. Ltd. or its employees.

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  3. Decentralized


    Finance

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  4. Let's go way back

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  5. Let's go way back
    to 2010

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  7. Let's go way back
    Why Bitcoin is safer than your bank


    GeekCamp 2012
    from https://www.weshipcode.com/developers/my-
    fi
    rst-geekcampsg-experience/

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  8. Why Bitcoin is safer than your bank


    GeekCamp 2012 circa 2012

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  9. DeFi begins with Bitcoin
    • Common perception. DeFi starts in 2018/2019.


    • Cake DeFi started in 2019.


    • Global DeFi begins in 2008 – with Bitcoin.

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  10. Bitcoin (₿) is a decentralized digital currency,
    peer-to-peer bitcoin network without the need for
    intermediaries.

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  11. Remember

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  12. Remember

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  13. Remember

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  14. Remember

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  15. Remember

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  16. DeFi begins with Bitcoin
    • Common traits?


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  17. DeFi begins with Bitcoin
    • Common traits?


    • Financial transactions.


    • Around Bitcoin as payment or transaction settlement.


    • Peer to Peer


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  18. DeFi begins with Bitcoin
    • Common traits?


    • Financial transactions.


    • Around Bitcoin as payment or transaction settlement.


    • Peer to Peer, with assistance of 3rd-parties


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  19. DeFi begins with Bitcoin
    • Common traits?


    • Financial transactions.


    • Around Bitcoin as payment or transaction settlement.


    • Peer to Peer, with assistance of 3rd-parties


    • For discovery / match-make


    • Escrow

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  20. Regardless


    Money is Free!

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  21. Regardless


    Money is Free!

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  22. It's
    2015

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  23. View Slide

  24. Money was free from 2008


    Financial contracts


    are not

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  25. What is Ethereum
    Computer-as-a-
    service

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  26. Computer-as-a-service

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  27. Computer-as-a-service
    • Global state machine.


    • Global Turing-complete state machine.


    Run anything, build anything!


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  28. So what did people build?

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  29. So what did people build?

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  30. So what did people build?

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  31. So what did people build?
    ICO
    DAO

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  32. So what did people build?
    ICO
    DAO
    Initial Coin Offering
    Decentralized


    Autonomous


    Organization
    The DAO

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  33. So what did people build?

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  34. So what did people build?
    Non-Fungible Token (NFT)

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  35. So what did people build?
    Non-Fungible Token (NFT)
    circa 2018

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  36. So what did people build?
    Free stablecoin

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  37. So what did people build?

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  38. So what did people build?

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  39. Money has been Free


    Financial Contracts


    are now free!

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  40. That's DeFi as we
    know today.

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  41. All 🌈 & 🦄 ?

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  42. View Slide

  43. View Slide

  44. View Slide

  45. How about...
    • Securing Financial Contracts


    • Not using all-powerful all-capable World Computer


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  46. How about...
    • Securing Financial Contracts


    • Not using all-powerful all-capable World Computer


    • How about a trustless decentralized Bank


    • Virtual Machine-less DeFi (VM-less DeFi)


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  47. View Slide

  48. • Native DeFi


    • Only does what it is de
    fi
    ned and what it is designed.


    • Not multi-purpose by design.


    DeFiChain

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  49. DeFiChain
    Financial-Contract-
    as-a-service

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  50. State of DeFi

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  51. State of DeFi
    Widely Used

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  53. High Yields

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  54. Decentralized Tokens

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  55. State of DeFi
    • High yield (>50% APY)


    • Widely used ($200B TVL)


    • Highly liquid

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  56. Should You DeFi?
    • Yes, if you are:


    • Comfortable with cryptocurrency exposure.


    • Comfortable with managing private keys.


    • Able to understand what you are dealing with,
    esp. smart contracts.

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  57. CeDeFi
    • Centralized DeFi (CeDeFi)


    • Custodian service into DeFi world.


    • Features:


    • Customer support


    • Service curation


    • Wallet management (legacy planning, etc)


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  60. View Slide

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  62. DeFi
    Be a part of the Financial Revolution
    https://cakede
    fi
    .com


    @cakede
    fi

    @uzyn
    U-Zyn Chua


    Cake DeFi

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