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Developing an interface for blockchain based protocols in decentralized finance applications


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Presentation material at ethcon Korea on May 27, 2019

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Developing an interface for blockchain based protocols in decentralized finance applications

  1. 1. Developing an interface for blockchain-based protocols in decentralized finance applications Daisaku Yamamoto TimeTicket, Inc. ethcon Korea
  2. 2. Daisaku Yamamoto Director, TimeTicket Tokyo, Japan Twitter @daisaku P2P skills marketplace
  3. 3. Developers should create financial services on Ethereum right now
  4. 4. What is DeFi (Decentralized Finance)
  5. 5. What is DeFi A movement that uses open source and distributed networks to transform traditional financial products into a reliable and transparent protocol without intermediaries.
  6. 6. Traditional finance Financial intermediaries Decentralized finance • Requires trusted, centralised intermediaries • Batch clearing and settlement • Higher fees and costly infrastructure Blockchain protocol • No intermediaries required • Faster processing and management • Lower fees and reduced infrastructure cost Source:Blockchain for Digital Transformation in Banking, FLOYD DCOSTA
  7. 7. Unbundling of financial intermediary functions Lending/Borrowing Investing Exchanging Transferring Traditional Banks Banks/Exchanges Exchanges/Brokers Cash Fintech Lending Club Robinhood TransferWise/Revolut DeFi Tokenized P2P Debt Tokenized financial Products DEX Cryptocurrency
  8. 8. Benefits Benefits and Concerns of DeFi Concerns • Permissionless • Censorship Resistant • Immutable • Reduced Counterparty Risk • Transparent • Open Source • Programmable • Efficiency Source: Decentralized Finance (DeFi) Thematic Insights, Delphi Digital • Regulatory risks • Limited product/market fits • Potential for high spreads & low liquidity • Limited on-chain throughput
  9. 9. DeFi Map Source: Mapping out Ethereum’s DeFi, THE BLOCK Payments Infrastructure KYC&Identity Stablecoins Insurance Custodial Services Exchanges&Liquidity Investing Derivatives Maketplaces Prediction Markets Credit & Lending 100+
  10. 10. The total usage volume of DeFi Locked about 2.2% of total ETH Source: Source:
  11. 11. Major services of DeFi MakerDAO CDP Portal 83% of ETH locked of DeFi Compound 4% of ETH locked of DeFi Dharma 4% of ETH locked of DeFi
  12. 12. A use case of MakerDAO Margin trading (Long position on the ETH/DAI pair) MakerDAO CDP Portal Exchange
  13. 13. A Service I have developed
  14. 14. A problem that I felt using DeFi Portfolio management is difficult
  15. 15. A service to aggregate crypto asset information • account balance and transaction history • present value • DeFi portfolio Watch your all crypto portfolio in a single page Cross protocol position monitoring
  16. 16. Demo movie
  17. 17. System EthereumMy AppUser Ethplorer API Ethereum tokens data LoanScan API DeFi activities data CoinMarketCap API Cryptocurrency data Etherscan API Ethereum accounts data • DONE: Monitoring account balance and transaction history • TODO: Automatic aggregation of DeFi portforio
  18. 18. Crypto Asset Management services InstaDApp Zerion Fetch Blockchain-based protocols for DeFi
  19. 19. Future Development My AppUser Ethereum Smart contracts Lending, Borrowing, Exchanging, Transferring
  20. 20. Automated Portfolio Management My AppUser Smart contracts Automatically selects protocols with higher annual percentage rate Lend APR 11.0% Lend APR 13.6% Lend APR 15.67%
  21. 21. Future of DeFi System infrastructure Users Company Financial Services Chances in the gap
  22. 22. Developers should create financial services on Ethereum right now
  23. 23. Thank you! ethcon Korea Daisaku Yamamoto Twitter @daisaku