# defi

DeFi, or Decentralized Finance, uses blockchain to create a financial system where you can lend, borrow, save, and earn interest on your money directly over the internet, without needing banks or other middlemen. It operates with cryptocurrencies and smart contracts, making transactions automatic and secure. DeFi gives you more control over your finances and can offer higher returns, but it comes with higher risks due to its volatility and lack of regulation.

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Degen

Degen, an ERC-20 token launched in January 2024, has reshaped the Farcaster ecosystem by enabling Casters to reward others with DEGEN for posting quality content. Their points system recognizes unique posts and comments, effectively bridging the gap between online contributions and real-world value. While Degen Chain is not the first Layer 3 scaling solution, it is a first of its kind — a layer dedicated to DEGEN and the associated meme coin ecosystem. The major features of the Degen Chain include: Low-cost Transactions: The transaction cost on the Degen Chain is low compared to that of other layer-2 blockchain transactions. Community Centric: The Community is the backbone of the Degen Chain ecosystem, and its utmost priority is to address the requirements of its community members. Native Token DEGEN: The DEGEN token energizes Degen Chain based activities and incentivizes the community.

Euler Finance

### What Euler is a non-custodial permissionless protocol on Ethereum that allows users to lend and borrow almost any crypto asset. Euler helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third-party. ### Why? Euler introduces a number of new features in DeFi, including permissionless lending markets, protected collateral, reactive interest rates, per-second compounding interests and feeless flash loans. #### Permisionless listing Euler lets its users determine which assets are listed. Any asset that has a WETH pair on Uniswap v3 can be added as a lending market on Euler. #### Protected Collateral On Compound and Aave, collateral deposited to the protocol is always made available for lending. On the other hand, Euler allows collateral to be deposited, but not made available for lending. This collateral is 'protected'. It doesn't earn interest, but is free from the risks of borrowers defaulting, can always be withdrawn instantly, and helps protect against borrowers using tokens to influence governance decisions. #### Reactive interest rates Euler uses control theory to autonomously change the interest rates towards a level that maximises utilisation of assets in the protocol. These reactive interest rates adapt to market conditions for the asset in real-time without the need for ongoing governance intervention. #### Compound Interest Compound interest is accrued on Euler each second. This is different from other lending protocols, where interest is typically accrued every block. Earning interest per-second is generally expected to perform more predictably in the long-run, even if upgrades to Ethereum lead to changes in the average time between blocks. #### Feeless Flash Loans Euler only charges fees according to the time value of money, and from the blockchain's perspective flash loans are held for a duration of 0 seconds. Thus, they are entirely free on Euler (ignoring gas costs).

FarLaunch

FarLaunch.xyz , the 1st fair launch platform on Farcaster—a cutting-edge platform designed to revolutionize the way users discover and engage with promising projects. The uniqueness of FarLaunch.xyz lies in its emphasis on the collective strength of a community through Farcaster social graph. Success is not measured by the solitary backing of a single person but by the collective support of an entire army of individuals who believe in the shared vision. The realization of a successful launch is intricately tied to consensus, fostering an equitable and transparent distribution of assets that is firmly grounded in the community's ethos. We redefine the LaunchPad experience, leveraging the strength of community and the innovative capabilities of Farcaster to uncover and nurture projects that have the potential to make a lasting impact. Together, let's build a community-driven future for promising ventures.

Lido

### What Lido is an open source tool and family of protocols that enables users to mint liquid staking tokens (sTokens) - These liquid staking tokens receive rewards from validation activities of writing data to the blockchain, but unlike their staked counterparts, are "unlocked" which means they can be used in other on-chain activities, like DeFi. Lido protocols let users stake native tokens (ETH, MATIC, SOL) from Ethereum, Polygon, and Solana networks in a fully permissionless way. And as the protocols are deployed on public blockchains, users do not need the website to access the smart contracts. ### Why Traditional staking means that users need to lock-up their ETH or other native asset to be able to secure the network and receive the respective rewards. However, this means that these tokens can't be used for anything else while they are staked. Lido aims to solve this problem. Lido protocols give users liquidity - users are able to receive staking rewards from validation activities, but can sell their stTokens (tokens minted on Lido) anytime they want to exit their staking position. In addition, it allows users to participate in DeFi while getting rewards - Because sTokens are unstaked and thus "liquid", users can use stTokens as building blocks in DeFi protocols at the same time as getting staking rewards from validating activities. The Lido DAO also works with experienced node operators, which decreases the likelihood of technical mistakes that could lead to slashing or penalties and minimizes the technical burden for users to receive staking rewards. Users supply the stake, and the node operators supply the know-how.

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