The third meet up in the DeFi Primitive Series hosted on the theme of “DeFi Use Cases (DEX and Lending” was organized on 1stth October 2022 which was led by our esteemed CEO, Dr Ravi Chamria. He covered the chief use cases of DeFi – Decentralized Exchanges (DEXs) and Lending and borrowing. He deep dived into the theme to make sure that viewers get a deeper understanding of  concepts powering the DeFI use case. 

Dr Chamria started the session with a recap about DeFi – defining what it is, what are its key components, its uses and benefits and then gradually he moved to the key theme of the webinar. 

Dr Ravi explained in great detail about what DEXs are, how they work and also drew a comparison between the centralized and the decentralized exchanges with examples. During the third session, he dug a little deeper into the functioning of DEXs, explaining how it is an important use case that allows for complete transparency into all financial and asset transactions. 

He also stressed upon the numerous benefits offered by DEX as a use case of DeFi –  stating how it ushers in a trustless mechanism and operates as a non-custodial framework where trades are executed through the smart contracts. He explained how users can host their own wallets and reduce their counterparty risks. Hacking risks are also minimized with DEXs. Besides, the session also threw light on the risks and considerations of using DEXs. Importance of having robust smart contracts was mentioned as vulnerabilities could exploit transactions. Centralization threats, high costs of using DEXs, scalability issues and challenges posed to early buyers of tokens were some of the risk factors that were touched upon in the session.  Attendees of the webinar also got a detailed insight about the best DEXs in the DeFi space as of 2022. 

Participants of the third webinar on this DeFi series were shown some interesting facts about DeFI lending and borrowing use cases. The difference between the DeFi lending and traditional lending was made clear by the speaker through this insightful session.  Individuals were also made aware of the potential risks associated with DeFi lending and borrowing. At the end of the session, some important statistics were shared with the viewers. 

In case, you missed the webinar then you can watch the full episode about the critical use case of DeFi – DEXs and DeFI lending and borrowing and their longer term implications in the link below: