DeFi: How It Works and Where It Breaks

DEXs, AMMs, liquidity pools and impermanent loss, lending, staking and restaking, yield and risk. Each lesson dissects a real failure (Kelp DAO, Stream Finance, Drift) so the risk is concrete.

10 lessons · free · beginner to advanced

1. What Is DeFi? Finance Without Intermediaries, and Its RisksBeginner
2. How Does an AMM Work? Uniswap, x*y=k and Price ImpactIntermediate
3. MEV Sandwich Attack Explained: Slippage, Front-Running, DefenceIntermediate
4. Impermanent Loss Explained: Formula, Example and Pool FeesIntermediate
5. DeFi Lending Explained: Collateral, Health Factor, LiquidationIntermediate
6. Restaking Risks Explained: Staking, Liquid Staking, Kelp DAOIntermediate
7. Real Yield DeFi: How to Find the Source of an APYIntermediate
8. Crypto Bridge Hack Explained: Oracles, Admin Keys, MultisigsAdvanced
9. RWA Crypto Explained: Tokenized Treasuries and Real AssetsIntermediate
10. DeFi Risks Checklist: What to Check Before You DepositIntermediate

Start the course Free order flow course

Education only, not a recommendation to buy or sell; we never give signals. Price examples are illustrative. Test any method on a demo account first, with strict risk management.