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Summer Course: Introduction to Decentralized Finance

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This course provides students with a comprehensive overview of Decentralized Finance (DeFi) concepts, exploring both the theoretical and practical aspects of the DeFi ecosystem, preparing data scientists and data analysts to take part on the development of this exciting technology.

The course then delves into the various DeFi protocols and platforms that exist, such as decentralized exchanges (DEXs), lending and borrowing platforms, and liquidity pools. Students will explore the benefits and drawbacks of these platforms, as well as the risks and opportunities that come with using them.
In addition to the theoretical aspects of DeFi, the course also offers practical experience with DeFi protocols and platforms. Students will have the opportunity to participate in hands-on exercises and simulations to gain a deeper understanding of how DeFi works in practice. They will learn how to use popular DeFi platforms and tools, such as MetaMask, Uniswap, and Compound, and gain experience with managing their own DeFi portfolio.

Throughout the course, karpatkey emphasizes the importance of security and risk management in the DeFi space, teaching students how to identify and mitigate potential risks and scams.
By the end of the course, students will have a solid understanding of the theoretical and practical aspects of DeFi, as well as the knowledge and skills needed to participate in the DeFi ecosystem with confidence.

About the Course

Target Audience

  • Students who have a basic understanding of blockchain technology but are new to the world of DeFi;
  • Students who want to learn about the potential benefits of decentralized finance, such as reducing the need for intermediaries, increasing transparency and security, and enabling greater financial inclusion;
  • New users who are interested in participating in DeFi applications, such as lending, borrowing, staking, and trading, but are unsure of how to get started;
  • Entrepreneurs, developers, and professionals who are interested in developing DeFi applications or working in the DeFi space.

Objectives

  • Understand the basic concepts and principles of decentralized finance (DeFi).
  • Learn about the different types of DeFi applications and their uses.
  • Gain an understanding of the decentralized financial ecosystem and its potential benefits.
  • Explore the various DeFi protocols and their underlying technologies.
  • Learn how to use a DeFi wallet to manage assets and participate in DeFi applications.
  • Understand the risks associated with using DeFi platforms and how to mitigate them.
  • Learn about the role of smart contracts and decentralized autonomous organizations (DAOs) in DeFi.
  • Understand the economic incentives and rewards offered by DeFi platforms.Explore different DeFi investment strategies and their potential risks and returns.
  • Learn how to stay up-to-date with the latest developments and trends in the DeFi space.

Program Structure

Session Readings
Blockchain and Smart Contracts Dave Montali/Karpatkey
From CeFi to DeFi Dave Montali/Karpatkey
DeFi Building Blocks Dave Montali/Karpatkey
L1, L2, Sidechains Dave Montali/Karpatkey
Yield and Farming Dave Montali/Karpatkey
Risk Dave Montali/Karpatkey
Day in the life of a DeFi Fund Manager / Q&A Dave Montali/Karpatkey
Course Unit
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  • Module: Blockchain and Smart Contracts

    Objectives

    • Understand the fundamentals of blockchain technology;
    • Understanding the basics of smart contracts, their role in blockchain networks, and their potential applications.

    Content

    1. An introduction to Karpatkey, the instructor of the DeFi course. Students will learn about Karpatkey's background, expertise, and experience in the DeFi space;
    2. An overview of the underlying technologies that power DeFi, including blockchain and smart contracts. Students will learn about the different types of blockchain platforms used in DeFi and how smart contracts are used to build decentralized applications.

    Resources

  • Module: From CeFi to DeFi

    Objectives

    • The key principles and differences between traditional centralized finance (CeFi) and emerging decentralized finance (DeFi) systems;
    • Understanding the potential risks and challenges associated with DeFi.

    Content

    1. In this section, students will learn about the evolution of finance from centralized finance (CeFi) to decentralized finance (DeFi). The course will cover the key differences between the two and the benefits and drawbacks of using DeFi systems.

    Resources

  • Module: DeFi Building Blocks

    Objectives

    • Introducing participants to the core DeFi protocols;
    • Grasping the idea of "money legos" and how DeFi protocols can be combined, or composed, to create new financial products;
    • Discussing the various types of DeFi tokens, such as governance tokens and utility tokens.

    Content

    1. This section will cover the building blocks of DeFi, including decentralized exchanges, oracles, lending and borrowing platforms, and liquidity pools. Students will learn about the various DeFi protocols and platforms that exist and the benefits and drawbacks of using them.
    2. The section will also include an overview of the current stablecoin ecosystem, for instance centralized vs decentralized stablecoins.
    3. Finally, the topic of overcollateralized lending will also be covered.

  • Module: L1, L2, Sidechains

    Objectives

    • Understanding the concept of blockchain scalability and the challenges it presents;
    • Understanding the difference between Layer-1, Layer-2 and sidechains.

    Content

    1. A section on the current state of scalability, L2s and sidechains;
    2. How to achieve scalable, affordable and secure computation.

    Resources

  • Module: Yield and Farming

    Objectives

    • Understanding the concept of yield and where it comes from;
    • Understanding the concept of yield farming and leveraging.

    Content

    1. A section on the current state of scalability, L2s and sidechains;
    2. How to achieve scalable, affordable and secure computation.

  • Module: Risk

    Objectives

    • Understanding risk management and mitigation strategies;
    • Introduce participants to the idea of Black Swan events, which are rare, unpredictable occurrences with significant and far-reaching consequences.

    Content

    1. This section will cover risk management, from regular monitoring to rare and unexpected events that can have a significant impact on the DeFi market;
    2. Students will learn about the various black swan events that have occurred in the DeFi space and how to prepare for them.

  • Module: Day in the life of a DeFi Fund Manager

    Objectives

    • Gain an understanding of the responsibilities, skills, and expertise required to successfully manage a decentralized finance (DeFi) fund;
    • Educate participants on the importance of risk management in DeFi and the techniques employed.

    Content

    1. In this section, students will explore the day-to-day activities of a DeFi fund manager, including managing investments, analyzing data, and mitigating risk;
    2. Students will gain insights into the challenges and opportunities presented by the rapidly evolving DeFi market.

Instructors

Fernando Bação

Course Coordinator

Fernando Bação is a Full- Professor at NOVA IMS, Nova University of Lisbon, where he is also the Director of the Master in Information Managment with specialization in Business Intelligence and co-Director of the Master in Law and Financial Markets (a patnership between NOVA IMS and NOVA School of Law). He holds a Ph.D. in Information Management and his research interests include Machine Learning, Data Science and Blockchain. 

Dave Montali

Instructor

Dave Montali works at karpatkey, a DeFi treasury management DAO with over $350M in assets under management, where he works on the Gnosis partnership which includes managing their treasury as well as building out the Gnosis Chain DeFi ecosystem.  Before joining karpatkey Dave was the treasury manager for DXdao, a DAO building decentrallized products. Dave previously worked as a researcher at NOVA IMS working on genetic algorithms and genetic programming.

Marcelo Ruiz de Olano

Guest

Marcelo Ruiz de Olano is the co-founder of karpatkey, he previously worked on Ethereum Core Development at Gnosis.