Decentralized Finance (DeFi) Primitives
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Decentralized Finance (DeFi) Primitives
This course is part of Decentralized Finance (DeFi): The Future of Finance Specialization
Instructor: Campbell R. Harvey
24,346 already enrolled
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What you'll learn
Token design and NFTs
Mechanics of supply adjustment
Decentralized exchange
Details to know
4 assignments
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There are 4 modules in this course
DeFi and the Future of Finance is a set of four courses that focus on decentralized finance. The second course is called DeFi Primitives. It is recommended that you take the first course, DeFi Infrastructure, before this course. In this course, we talk about transaction mechanics and introduce both fungible and non-fungible tokens – or NFTs. The course explores the important issue of custody (holding private keys). The course then explores supply adjustment which includes the minting and burning of tokens. The mechanics of bonding curves are introduced. The course then explores the role of direct as well as indirect incentives in the DeFi system. We then analyze swaps or decentralized exchange. We begin by contrasting DEX with centralized exchange (e.g., Coinbase or Binance). The course details the mechanics of Automated Market Makers and provides a number of detailed examples. There is a discussion of impermanent loss as well as (legal) front-running. We end the course by exploring both collateralized and flash loans.
The first module explores some key primitives such as how Ethereum transactions occur including the differences between externally owned accounts and contract accounts. We then explore fungible and non-fungible (NFT) tokens and miner extractable value.
What's included
3 videos2 readings1 assignment
3 videos•Total 48 minutes
- Transaction Mechanics•22 minutes
- Fungible Tokens•19 minutes
- Non-Fungible Tokens•7 minutes
2 readings•Total 15 minutes
- DeFi and the Future of Finance•10 minutes
- Report a problem with the course•5 minutes
1 assignment•Total 30 minutes
- Module 1 Graded Quiz •30 minutes
The second module focuses on supply adjustment (minting and burning), the atomic nature of transactions in Ethereum, as well as incentives. The concept of a keeper in the Ethereum ecosystem is introduced.
What's included
3 videos1 assignment
3 videos•Total 43 minutes
- Custody •4 minutes
- Supply Adjustment•25 minutes
- Incentives•14 minutes
1 assignment•Total 30 minutes
- Module 2 Graded Quiz •30 minutes
The third module introduces decentralized exchange and explores in considerable detail Automated Market Makers. The module also introduces the idea of collateralized loans as well as uncollateralized flash loans.
What's included
5 videos1 assignment
5 videos•Total 56 minutes
- Centralized Exchange•15 minutes
- Decentralized Exchange•7 minutes
- Automated Market Makers•21 minutes
- Collateralized Loans •7 minutes
- Flash Loans •6 minutes
1 assignment•Total 30 minutes
- Module 3 Graded Quiz•30 minutes
The final module shows step-by-step how to set up a MetaMask wallet allowing the student to join the world of DeFi. The second part of the module conducts a deep dive into some of the key blockchain concepts such as digital signatures and consensus mechanisms (including Proof of Stake).
What's included
7 videos1 reading1 assignment
7 videos•Total 90 minutes
- MetaMask Wallet•15 minutes
- Hashes and Keys•8 minutes
- Addresses•9 minutes
- Signatures and Transaction Mechanics•10 minutes
- Consensus•21 minutes
- Incentives, Latency, Data, Computing Power•13 minutes
- Cross-chain, Immutability, Oracles, Privacy•13 minutes
1 reading•Total 10 minutes
- Share your learning experience•10 minutes
1 assignment•Total 30 minutes
- Module 4 Graded Quiz•30 minutes
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Reviewed on Jul 12, 2022
I like the way the professor communicates in this course. He is very clear and I can understand him. Thank-you.
Reviewed on Aug 30, 2023
It was actually quite great. I am excited to learn more about DeFi as well as the programming perspectives!
Reviewed on Dec 29, 2021
Course is very insightful. It broadens the scope of understanding the mechanisms involved from minute to complex transactions.
Frequently asked questions
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