With several #DeFi protocols launching soon on ICON, I've put together a guide for beginners, which explains DeFi concepts and how the various ICON applications will work.
Whether you're excited or not for ICON DeFi, I hope you'll read it! $ICX
Part 1: https://iconographicx.medium.com/the-icon-defi-guide-part-1-introduction-4a8aea8f24e?source=friends_link&sk=374c85282e552530d3cc2f02767d29c8
Whether you're excited or not for ICON DeFi, I hope you'll read it! $ICX
Part 1: https://iconographicx.medium.com/the-icon-defi-guide-part-1-introduction-4a8aea8f24e?source=friends_link&sk=374c85282e552530d3cc2f02767d29c8
Part 2 explains stablecoins and borrowing on the ICON network, made possible by @BalancedDAO. https://iconographicx.medium.com/the-icon-defi-guide-part-2-stable-coins-borrowing-and-the-balanced-network-dffa2b132857?source=friends_link&sk=76d58cb57c65d0b9f8889ffea1273d82
Part 3 examines #DeFi money markets, which allow borrowing and lending on ICON via @ommfinance. https://iconographicx.medium.com/the-icon-defi-guide-part-3-money-markets-lending-and-the-omm-network-c406f6d24bb2?source=friends_link&sk=621a516d5be753b7653d9c1b1c9fef9b
Part 4 dives into the two automated market makers we have on ICON thus far: @unifiprotocol @iconpoolio https://iconographicx.medium.com/the-icon-defi-guide-part-4-automated-market-makers-unifi-and-iconpool-5e583a7b77c6?source=friends_link&sk=63705ef8fb64f0ec3d6a09933a8df9b1
Part 5 explains how you can optimize the amount of returns you'll get with #DeFi on ICON with the Optimus Protocol by @ICONDAO https://iconographicx.medium.com/the-icon-defi-guide-part-5-optimizing-yield-with-optimus-a4b57c6ca023?source=friends_link&sk=d3762603622925c50aee2593cf3dc7e1
Part 6 looks at how #DeFi has been abused in the past and how you can avoid getting rekt. https://iconographicx.medium.com/the-icon-defi-guide-part-6-where-defi-has-gone-wrong-1d203e5d65c6?source=friends_link&sk=3f7221d75dfe11c6c1512250b6b893a3
Part 7 explores some #DeFi strategies and ideas on how you can best utilize the tools made available. https://iconographicx.medium.com/the-icon-defi-guide-part-7-yield-farming-strategies-on-icon-833cda1c535d?source=friends_link&sk=d456c74aed128d69bf243e2423541249
And part 8 takes a look at how DeFi benefits the entire ICON ecosystem. https://iconographicx.medium.com/the-icon-defi-guide-part-8-how-icon-benefits-from-defi-ef21fa844699?source=friends_link&sk=ba7855800002b69b74c0a5442fda62e2
I'll be updating this guide as time goes on, and will be adding new chapters and making revisions as the ecosystem evolves and new platforms are added.
I've also created a Telegram room dedicated to ICON #DeFi for asking questions, sharing strategies, or just discussing the ICON DeFi ecosystem: https://t.me/joinchat/RyJADNpEPXgOSgR9