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DeFi · 6 phases · 23 topics

Decentralised finance (DeFi)

DeFi replaces order books, lenders and brokers with smart contracts that anyone can use from a wallet. This path starts with how Ethereum and its layer-2 networks work, then covers automated market makers, liquidity providing, lending, stablecoins, staking and bridges, and finishes with how to judge the risk and read the data.

Best after: Crypto trading and investing

Read this first. DeFi has no support desk and no deposit insurance. Smart-contract bugs, oracle failures, bridge hacks, fake front-ends and bad approvals have cost users large sums, and transactions cannot be undone. Yields are variable and often paid in tokens that can lose value. Leveraged and borrowed positions can be liquidated automatically. Rules for using and being taxed on DeFi differ by country. Nothing here is investment advice, and protocols named are examples of a mechanism, not recommendations.

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  1. The base layer

    Ethereum, gas, layer-2 networks, and how a wallet signs what you do on-chain.

  2. Trading on-chain

    How automated market makers set prices, what slippage costs, and who can profit from your trade.

  3. Providing liquidity

    What liquidity providers earn, what they give up, and why quoted yields are hard to compare.

  4. Lending, stablecoins and oracles

    Borrowing against collateral, what makes a stablecoin hold its peg, and the price feeds everything depends on.

  5. Staking and moving between chains

    How staking earns rewards, what liquid and restaked versions add, and why bridges are a common point of failure.

  6. Advanced protocols and judging risk

    On-chain derivatives, how to assess smart-contract risk, and how to read protocol data.

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Education, not financial advice. Nothing here says what to buy or sell, and rules and product availability differ by country. All roadmaps.

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