DeFi and the Future of Finance. Campbell R. Harvey

      

      Table of Contents

      1  COVER

      2  TITLE PAGE

      3  COPYRIGHT

      4  FOREWORD

      5  PREFACE

      6  I INTRODUCTION FIVE KEY PROBLEMS OF CENTRALIZED FINANCIAL SYSTEMS IMPLICATIONS NOTES

      7  II THE ORIGINS OF MODERN DECENTRALIZED FINANCE A BRIEF HISTORY OF FINANCE FINTECH BITCOIN AND CRYPTOCURRENCY ETHEREUM AND DeFi NOTES

      8  III DeFi INFRASTRUCTURE BLOCKCHAIN CRYPTOCURRENCY THE SMART CONTRACT PLATFORM ORACLES STABLECOINS DECENTRALIZED APPLICATIONS NOTES

      9  IV DeFi PRIMITIVES TRANSACTIONS FUNGIBLE TOKENS NON-FUNGIBLE TOKENS CUSTODY SUPPLY ADJUSTMENT INCENTIVES SWAP COLLATERALIZED LOANS FLASH (UNCOLLATERALIZED) LOANS NOTES

      10  V PROBLEMS DeFi SOLVES INEFFICIENCY LIMITED ACCESS OPACITY CENTRALIZED CONTROL LACK OF INTEROPERABILITY

      11  VI DeFi DEEP DIVE CREDIT/LENDING DECENTRALIZED EXCHANGE DERIVATIVES TOKENIZATION NOTES

      12  VII RISKS SMART CONTRACT RISK GOVERNANCE RISK ORACLE RISK SCALING RISK DEX RISK CUSTODIAL RISK ENVIRONMENTAL RISK REGULATORY RISK NOTES

      13  VIII CONCLUSIONS: LOSERS AND WINNERS NOTE

      14  ACKNOWLEDGMENT

      15  REFERENCES

      16  GLOSSARY

      17  INDEX

      18  End User License Agreement

      List of Tables

      1 Chapter 6Table 6.1 The Problems That MakerDAO SolvesTable 6.2 Problems That Compound SolvesTable 6.3 Problems That Aave SolvesTable 6.4 Problems That Uniswap SolvesTable 6.5 Problems That the Yield Protocol SolvesTable 6.6 Problems That dYdX SolvesTable 6.7 Problems That Synthetix SolvesTable 6.8 Problems That Set Protocol Solves

      List of Illustrations

      1 Chapter 2Figure 2.1 Western Union transfer from 1873Figure 2.2 Iraqi Swiss dinars and new dinars

      2 Chapter 4Figure 4.1 Linear bonding curveFigure 4.2 Superlinear bonding curveFigure 4.3 Logistic/sigmoid bonding curveFigure 4.4 Different bonding curves for purchases and salesFigure 4.5 The mechanics of automated market makers

      3 Chapter 6Figure 6.1 The Mechanics of MakerDAO's DAIFigure 6.2 Collateralization Ratios in CompoundFigure 6.3 Savings and Lending Rates in CompoundFigure 6.4 The Mechanics of Compound's Equity Token (cToken)Figure 6.5 The Mechanics of an Aave Flash LoanFigure 6.6 The Mechanics of a Uniswap Automated Market MakerFigure 6.7 The Mechanics of a Flash Swap in UniswapFigure 6.8 The Mechanics of Fixed-Rate Borrowing in the Yield ProtocolFigure