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Week 2 introduction

Summary of main points from last week/Introduction to topics covered this week with explanation that this week is very hands on
(light music) <v ->So now we know DeFi is.</v> In week two, we’re gonna build on this knowledge by getting our hands dirty. Chris, how are we gonna do that? <v ->Jason, the best way to learn in DeFi is by doing,</v> so this week, we’re gonna do exactly that. We’re gonna set up an Ethereum wallet. We’re gonna change to a testnet, and we’re gonna get some free testnet tokens that allow us to swap those testnet tokens on real-world DeFi protocols. We’re gonna talk you through one of the core technologies in DeFi which is stablecoins. And then we’re going to show you how to borrow and lend tokens on the Maker protocol.
So rather than keep talking about it, why don’t we just get started? (light music)

Now that we have the basic DeFi knowledge provided in Week 1, it’s time to take a hands-on approach to DeFi. Watch Professor Jason Potts and Associate Professor Chris Berg explain how we are going to jump into DeFi in Week 2.

This week we will:

  • set up a cryptocurrency wallet using Metamask
  • access a testnet and get free tokens
  • swap to a stablecoin on a decentralised exchange (DEX)
  • explore the role stablecoins play in DeFi
  • discuss borrowing and lending in DeFi.

Upon completion of week two, you should better be able to:

  • set up a cryptocurrency wallet
  • explain the benefits of using a testnet to learn DeFi
  • describe the role of stablecoins in DeFi
  • swap tokens on a DEX
  • describe methods of borrowing and lending in DeFi
  • interact with a smart contract
  • summarise DeFi applications

Share your thoughts

Before you begin this hands-on week performing key DeFi interactions, share your thoughts with your fellow DeFi explorers. Now that we are getting into performing key tasks in DeFi, which of the tasks are you most excited to learn about? Why is that task of specific interest to you?

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Decentralised Finance: Blockchain, Ethereum, and The Future of Banking

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