Thousands of developers flocked to Denver, Colorado last weekend to participate in ETHDenver, the largest Ethereum hackathon in the United States. Although there are various teams building projects that span multiple applications, Decentralized Finance (DeFi) is still the focus.
This article will take stock of several DeFi projects that appeared at this event.
- DeFi week selection 丨 DeFi cannibalizing PoS security? Vitalik debates with researchers
- Break into the Ethereum DeFi ecosystem and users will have the opportunity to use Zcash on Ethereum
- Inventory 201 DeFi systems on Ethereum
- Can Ethereum go to the high-speed development of centralization finance, can it trigger the next round of blockchain bull market?
- Take stock of the four "DeFi" projects on Ethereum
- The total value of DeFi hedging exceeds US $ 1 billion, and the rise in ETH price is not the only reason
Real-time fiat currency and ERC-20 transactions in a single transaction
Built by the Totle team, DeFiat allows users to convert their fiat currencies into ERC-20 tokens of their choice. The project uses Wyre's tools to purchase Ethereum with a debit card, and then automatically deposits it into a smart contract. It converts Ethereum to a token selected by the user through Totle's transaction aggregator, and sends the token to the user's Ethereum address , Thus creating the first fiat currency ERC-20 entrance.
The project is still under development and the team hopes to publish it as a web tool so that any website can support the conversion of fiat currency to ERC-20.
Leverage aggregator with automated trading strategies
The development team for this project is 1inch.exchange. 1x.ag is an aggregation platform that allows traders to establish leveraged positions based on various tokens. With 1x.ag, users can choose the leveraged position token they want, choose the payment method, choose the lending provider, and determine the multiple of the leveraged position they want (the current option is between 2-5 times). Users also have the option to use a clearing robot to choose the price at which they want to close their positions in order to profit or prevent further losses.
The 1x.ag mainnet is online and Compound is its lending provider.
Decentralized options market
ohmyDefi is a platform that allows users to write options and buy options strategies. The platform offers three products:
Options Builder Facility: Create and sell put or call options, and set your own expiration date and strike price Writing Facility: Write and sell US ETH: DAI trading pair put or call options Hedging Facility: Buy a buy for ETH The stride arbitrage option strategy allows ETH: DAI trading to hedge the volatility of ETH.
20 times leverage to guess the price of Dai
UpSideDai is a project that allows users to speculate on DAI prices with 20 times leverage. UpSideDai is a CFD, which uses Maker to determine the ETH / USD price and Uniswap ETH / DAI price to determine the DAI's USD price. With leveraged positions, users can speculate on Dai's price fluctuations by going 100% guaranteed to go long or short. Currently, there are not many ways to speculate or hedge the price of Dai. The team believes that in the long term, UpSideDai will reduce Dai's price fluctuations because market participants will arbitrage the spread.
MakerDAO BTC Vault
Dai stablecoin collateral
The MakerDAO BTC Vault project was created by the Ren Project team and plans to use Bitcoin-backed Ethereum renBTC as MakerDAO's Dai stablecoin collateral. The Ren Project team has been working with members of the Maker Foundation to test renBTC on the Kovan testnet.
DeFi e-commerce plugin
ShopiFi is a plug-in that bridges e-commerce and DeFi protocols such as Compound, PoolTogether, and Chai. With ShopiFi, consumers or merchants can indirectly participate in the benefits provided by the DeFi protocol. Consumers can buy a product and send a portion of the payment to an interest generation agreement or deposit in a non-destructive lottery. Merchants can choose to transfer their sales and income to interest-bearing agreements, such as the Compound agreement, and receive interest from their sales, instead of depositing funds into bank accounts through traditional methods.