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Introduction
A warm greeting to the entire Steemit Crypto Academia community, we hope everyone is doing great. We are ending this first week and starting with the 2nd week of this 4th season of the Steemit Engagement Challenge. We are very grateful for the support of all the participants in the first week that is about to end and we reiterate the invitation to join this second week.
We want to see your expertise applied in this challenge, and we want you to interact with your peers by leaving relevant comments and supporting them with your vote. In this week, our focus will be on DeFi, this ecosystem that has been changing the financial world.
Contest theme: Decentralized Finance
The traditional financial system has functioned for many years, being an intermediary between savers and those who need financing, to maximize profits.
However, the traditional financial system is controlled by a central entity, and to carry out any procedure it is necessary to physically go to any entity in charge of carrying out that procedure.
Given this situation, several years ago emerged a financial ecosystem that is built based on blockchain technology, this ecosystem is decentralized, and no longer needs a central entity governor of this system, therefore, this decentralized financial ecosystem is known as DeFi.
We want to know your opinion and experience with this financial ecosystem.
What is the expectation of this challenge?
Explain in your own words the DeFi world Why is it important? Let's talk about it.
DeFi Vs Centralized Finance. Advantages and disadvantages, let's talk about them.
Have you used decentralized Exchange? Tell your experience and explain a Decentralized Exchange. Show screenshots.
Give us your opinion about the future of DeFi.
Contest Guidelines
Post your articles in the Steemit Crypto Academy community. The participation time is between Monday, September 5th, 2022, 00:00 UTC to Sunday, September 11th, 2022, 23:59 UTC.
The article should be at a minimum of 500 words. You can write more. Your article must be free of any form of plagiarism.
Your article title should be Steemit Crypto Academy Contest / S4W2 - Decentralized Finance by @username. Add the tag #cryptoacademy-s4w2 and other relevant tags.
Participants must be appropriately following #club5050 or #club75 or #club100.
The community moderators would be leaving quality assessments on your articles and probable upvotes.
In addition, your article must get at least 10 upvotes and 5 valid comments to count as valid in the contest, so ensure you interact with other users' entries. Do not be involved in vote-buying.
Rewards
- SC01 would be checking on the entire 7 participating communities and upvoting outstanding content. Upvote is not guaranteed for all articles. Kindly take note.
- At the end of the week, we would nominate top 3 users that had performed well in the contest and they would be eligible for votes from SC01/SC02.
Important Notice: The nomination of the top 3 users in our community is not based on good grades alone, it includes their general engagements (quality and quantity of their interactions with other users' articles) to measure the overall performance. Also note that generally, you can only make one post per day in the Steemit Engagement Challenge.
Conclusion
Defi has created a great expectation in the financial world, because it offers advantages that the traditional financial system does not offer, however, it also has its disadvantages. In this contest we want you to give us your opinion about this Decentralized Financial ecosystem.