DeFi and the future of finance

During the Global Financial Crisis in 2008, our financial infrastructure failed. Govern­ments bailed out the very institutions that let the economy down. This episode spurred a serious rethink of our financial system. Does it make any sense that it takes two days to settle a stock transaction? Why d...

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Bibliographic Details
Main Authors: Harvey, Campbell R., Ramachandran, Ashwin, Santoro, Joey
Format: eBook Book
Language:English
Published: Hoboken John Wiley & Sons, Inc 2021
John Wiley & Sons, Incorporated
Wiley
Wiley-Blackwell
Edition:1
Subjects:
Banks and banking, Central
Blockchain
Finance
Financial institutions
Financial services industry
Finanztechnologie
Virtuelle Währung
ISBN:9781119836018, 1119836018
Online Access:Get full text
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Table of Contents:
  • Cover -- Title Page -- Copyright Page -- Contents -- Foreword -- Preface -- Chapter 1 Introduction -- Five Key Problems of Centralized Financial Systems -- Implications -- Chapter 2 The Origins of Modern Decentralized Finance -- A Brief History of Finance -- Fintech -- Bitcoin and Cryptocurrency -- Ethereum and DeFi -- Chapter 3 DeFi Infrastructure -- Blockchain -- Cryptocurrency -- The Smart Contract Platform -- Oracles -- Stablecoins -- Decentralized Applications -- Chapter 4 DeFi Primitives -- Transactions -- Fungible Tokens -- Equity Token -- Utility Tokens -- Governance Tokens -- Non-fungible Tokens -- NFT Standard -- Multitoken Standard -- Custody -- Supply Adjustment -- Burn: Reduce Supply -- Mint: Increase Supply -- Bonding Curve: Pricing Supply -- Incentives -- Staking Rewards -- Slashing (Staking Penalties) -- Direct Rewards and Keepers -- Fees -- Swap -- Order-Book Matching -- Automated Market Makers -- Collateralized Loans -- Flash (Uncollateralized) Loans -- Chapter 5 Problems DeFi Solves -- Inefficiency -- Keepers -- Forking -- Limited Access -- Yield Farming -- Initial DeFi Offering -- Opacity -- Smart Contracts -- Centralized Control -- Decentralized Autonomous Organization -- Lack of Interoperability -- Tokenization -- Networked Liquidity -- Chapter 6 DeFi Deep Dive -- Credit/Lending -- MakerDAO -- Compound -- Aave -- Decentralized Exchange -- Uniswap -- Derivatives -- Yield Protocol -- dYdX -- Synthetix -- Tokenization -- Set Protocol -- Wrapped Bitcoin -- Chapter 7 Risks -- Smart Contract Risk -- Governance Risk -- Oracle Risk -- Scaling Risk -- DEX Risk -- Custodial Risk -- Environmetal RISK -- Regulatory Risk -- Chapter 8 Conclusions: Losers and Winners -- Acknowledgment -- References -- Glossary -- Notes -- Chapter 1 -- Chapter 2 -- Chapter 3 -- Chapter 4 -- Chapter 6 -- Chapter 7 -- Chapter 8 -- Index -- EULA