What is Defi and what is decentralized finance

There is a secondary financial system operating right alongside our traditional system.  Thing about all the inefficiencies in our current system.  Banks have lots of employees and physical assets.  They need to keep a certain amount of money on hands and they have lots of expensive regulations.  The cost of a bank is so high that in the United States right now interest rates from a bank are typically below 1%.  Now what if instead of a borrower working with a bank, a borrower bowered money directly from a peer to peer lender who was looking to get a higher interest rate.  The borrower can get a loan at around 13% and the lender can make about 9% with small spread in the middle for the lending protocol.  It turns out that banks and insurance companies can potentially be replaced by blockchain smart contracts.

There is a future where companies don't have stock offerings but have initial coin offerings direct to the public.  As long as there are inefficiencies in the market, blockchain and crypto will be there to fill the gap.  Anyone can borrow money in Defi.  It doesn't matter who you are or what you have done.  All you need is collateral and you get a loan.  Anyone can lend money out.  If you have some Ether in your wallet, you can start using it to make money.  

The Defi network is not available yet from exchanges so if you want to invest, you will need to get a software or hardware wallet.  We are going to reccomend that you use a hardware wallet and combine it with Metamask for the Ethereum chain and use the Safepal for the Binance Chain.

Be very careful buying ERC-20 tokens on DEXs like Sushiswap and Uniswap.  It is very easy to buy a fake token.  It is not as safe as buying on a regulated exchange like Coinbase, Kraken, and Binance.  The best return I can get on Kraken right now is by staking Polkadot for a 12 percent return.  Pancake Swap token supposedly pays 220 percent right now if you stake it.  That is one of my next big projects is figuring out how to get my BNB into my safepal and then using it to buy Pancake Swap and then staking the Pancake Swap tokens.

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