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DeFi from Zero
DeFi is Ethereum's killer application. This path takes you from zero DeFi knowledge to understanding how the major protocols actually work — and why they matter.
Your progress
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What you'll understand after this path
- What DeFi is and why it matters for financial access
- How automated market makers (AMMs) work — no orderbook needed
- How to lend and borrow against crypto collateral
- How stablecoins maintain their dollar peg
- What liquidity provision is and how LPs earn fees
- How Curve, Uniswap, Aave, and Compound actually work
- What yield aggregators do and why Yearn matters
- How governance tokens give communities protocol control
- The risks: smart contract bugs, liquidation, impermanent loss
Curriculum — 9 pages, read in order
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1DeFi's foundation. Why Ethereum's programmability enables decentralised finance.Read page →
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2The AMM that started DeFi. x*y=k formula, liquidity provision, concentrated liquidity in v3.Read page →
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3Decentralised lending and borrowing. Supply assets, earn interest, borrow against collateral.Read page →
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4The original DeFi stablecoin. How DAI maintains its peg using over-collateralised ETH.Read page →
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5cTokens, interest rate models, and how Compound invented liquidity mining.Read page →
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6Stablecoin trading at minimal slippage. veTokenomics, gauge weights, and the Curve Wars.Read page →
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7Weighted pools, generalised AMM formula, and the self-rebalancing portfolio concept.Read page →
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8Automated yield aggregation. Vaults, strategies, fair launch, and how YFI changed DeFi.Read page →
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Progress is saved in your browser only — no account, no tracking. All pages use official sources — whitepapers, academic papers, government publications. Three reading levels on every page: Curious (plain English), Exploring (practical), Deep Dive (technical).