How can I get started in DeFi, and what’s possible? If you have crypto assets in your wallet, you are probably asking yourself this question right now.
We all know what it's like… checking your portfolio tracker or the price charts constantly. As the next bull run approaches, the question you’ve always wanted to know the answer to becomes more real.
Making it easier to get started in DeFi
Today, when you want to get started in DeFi, you are met with numbers, data points, podcasters, complex UX, and Twitter personalities.
- Who can you trust?
- What do you use?
Most find themselves at something like DeFillama… an excellent resource but probably not the best place to start.
DeFillama lists 1466 protocols with a TVL >100k that you’ll need to sift through. You’ll then need to understand the protocols that you have selected and, most importantly, what you can actually do with them.
A better place to start your DeFi journey is an app that does the work for you, like Summer.fi.
Why? Summer.fi gets two things out of the way immediately.
First, Summer.fi eliminates the need to filter out protocols that are not from trustworthy teams, that have not been battle-tested over time, or that are not best-in-class Summer.fi security audits.
Second, Summer.fi starts from your perspective. You hold some crypto assets in your wallet.
Would you like to to Earn on them? Borrow against them? Multiply them?
Instead of leaving the burden on you to understand what's possible with your crypto assets, Summer.fi packages all the best that DeFi offers in a way that meets the outcomes you are looking for.
So, what can you do in DeFi?
Generally, there are 3 core things that you can do with your crypto assets in DeFi. Borrow, Earn, and Multiply.
Borrowing in DeFi allows you to get liquidity from your crypto asset. For example, you can borrow USDC against your ETH. You can then spend the USDC on anything you’d like while keeping exposure to the ETH.
Borrow on Summer.fi -> https://summer.fi/borrow
Earning in DeFi allows you to earn a yield on your assets, compounding your returns over time in a more predictable way. This can be a passive yield or require active management depending on the protocol and strategy. The best part is that Summer.fi curates the protocols and strategies so you can pick the ones you like.
Earn on Summer.fi -> https://summer.fi/earn
Multiply is one of the more high-risk/reward options for DeFi users. It is a more tailored and specific version of Borrow Vaults that allows you to borrow against your crypto asset and buy more of it, thereby amplifying your exposure to the asset. You profit more when the price goes up, but you also lose more when the price goes down.
Multiply on Summer.fi -> https://summer.fi/multiply
Start your DeFi journey with Summer.fi
Whether you want to borrow against your assets, earn passive or active yield, or amplify your exposure to your highest-conviction crypto asset, Summer.fi is the simplest place to start.
Article written by Jordan Jackson
Getting in touch
If you have any questions regarding Summer.fi, contact us at email@example.com or our social media.