As readers of our blog know, Oikos’s mission has long been to simplify the often-confusing world of decentralized finance (DeFi) to ensure that anyone is able to take advantage of its wealth creation opportunities. While this presents an amazing opportunity for users, knowing where to begin can be tricky.
Making DeFi accessible to everyone
Today we’re announcing Oikos’s user guide to DeFi, which lays down everything a newcomer to DeFi needs to know to get started. Besides providing a hand for those just starting out, it breaks down the key functionalities of Oikos’s ecosystem that users need so that anyone can get involved. The user guide is available at https://learn.oikos.cash.
What DeFi does best
The user guide covers every corner of the ecosystem in a brief, need to know format. This includes borrowing and yield farming: two important parts of DeFi that play an integral role.
Borrowing allows DeFi users to take out collateralized loans against their digital assets (e.g. loans that require you to lock a percentage of the asset you are offering up to guarantee the loan is repaid) and then deploy those loans into other areas of the ecosystem to generate more yield, aka yield farming. Yield farming is arguably the backbone of DeFi: the ability to move assets around the entire ecosystem to generate more wealth and assets is what is setting DeFi apart from the wider cryptocurrency space. Besides staking, loans and yield farming is what will propel DeFi to mainstream adoption, as platforms such as Oikos continue to roll-out products and services that can rival traditional finance.
Certainly, the user guide will assist us in our journey to adoption in 2022, though is only one small part of the DeFi experience it marks a step forward to ease out the friction and to empower the people with more knowledge. With easy to navigate and understand tools such as this guide, those new to DeFi and cryptocurrency will feel more confident to dip their toe into staking OKS, trading synths, yield farming, taking loans, or doing them altogether.