ghost
commented
4 years ago "DeFi applications (dapps) are like centralized finance (CeFi) platforms in function, i.e. exchanges, lending markets, savings accounts, etc. Unlike CeFi, however, DeFi platforms are permissionless, like the Bitcoin network.
For example, whereas my son isn’t old enough to open a bank account, he can deposit USD stablecoins in a DeFi app and earn interest, just like a savings account. And I can exchange tokens on Uniswap without having to upload my passport, and justify where I got my funds.
Using DeFi apps requires “connecting” an Ethereum wallet. There’s a growing number of standards for this, including the well-designed Coinbase Wallet for iOS/Android. But the universal standard is the browser-based Metamask wallet, available for Chrome on OS X.
Every interaction you have with a DeFi platform requires a confirmation in your wallet, which maps to a transaction on the Ethereum network, and therefore has a fee associated with it. The fee is dynamically determined, and can get expensive when the Ethereum network is busy."
__ cool summary from here:
Bounty
updating the existing pitch with our new pivot of L2 govbricks
Scope
Deliverables
Gain for the project
new external communication
Roles
bounty gardener: @MaxKuck / share
bounty worker: @MaxKuck / share
bounty reviewer: name / share