In this episode, DeFi – Decentralized Finance on the Terra Blockchain, we discuss and show examples of the exploding world of cryptocurrency decentralized finance.
Much of the show is spent explaining defi and we also spend a significant time on Terra Station, which probably has the largest ecosystem around defi out of all the blockchains.
Terra is the name of the blockchain and Luna is the coin on that chain.
Here are the links we go to in this episode.
https://station.terra.money/
https://station.terra.money/wallet
https://faucet.terra.money/
https://www.anchorprotocol.com/
https://app.anchorprotocol.com/
https://www.mirror.finance/
https://mirrorprotocol.app/#/trade
And the YouTube video we watched:
Anchor Protocol: Terra’s DeFi MONEY MACHINE!! Complete Guide!
Here is the timestamp of the chapters of our discussion.
(00:01:10) Grant introduces Defi
(00:02:07) A quick explanation of finance that many people do use and how it is like defi
(00:05:40) Stable coins, why and how they are necessary for Defi
(00:12:30) How to incentivize investors and why it is part of Defi
(00:13:42) An explanation of Assetized Stable Coins
(00:14:00) An explanation of Algorithmic Stable Coins
(00:16:50) Where is Defi happening?
(00:17:03) Terra, and why it is interesting
(00:17:41) Looking at the main Terra Station website, the difference between web two and web three
(00:18:48) Diving into the Terra wallet
(00:22:08) Getting free testnet Terra at the Terra Faucet
(00:22:57) Swapping Luna and the other available protocols
(00:24:17) Introduction to Anchor in the Terra wallet
(00:26:04) Looking at the Anchor Dashboard
(00:27:14) Watching part of a YouTube about staked Luna and staked Eth from the Coin Bureau YouTube Channel
(00:28:28) A simplified explanation about the different aspects of the defi business model
(00:34:40) Back to the Terra Statin wallet to swap our Luna for some UST and then stake it on Anchor
(00:39:58) Checking out the “illegal” mirror protocol.
That wraps up today’s episode.
Thank you for checking out our video.
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Dan Mueller – crypto veteran
https://www.facebook.com/dishmandan
Grant Cermak – Crypto Guru, programmer, and founder of www.irulast.com
https://mobile.twitter.com/grantosan
https://mobile.twitter.com/CoinTheThird
and
Lewis May – marketer, rally race car owner, and co-driver
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https://www.facebook.com/lewis.t.may
https://www.linkedin.com/in/lewistmay/
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