What is DeFi?

Talk given on 7 April 2022 in Singapore.

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

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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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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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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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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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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