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DeFi (short for decentralised finance) is an umbrella term for financial applications built on public blockchains, primarily Ethereum. DeFi allows users to take complete control of their assets and interact with other users without intermediation (peer-to-peer), reaching transparent financial agreements that are self-executed independently of any third party by relying on open-source codes.
Stablecoins are cryptocurrencies where the price is pegged to another asset, such as fiat money (e.g. US Dollars) or exchange-traded commodities (e.g. precious metals). These cryptocurrencies have no volatility because they adopt a stabilisation method such as maintaining a cash reserve as collateral. In this case, the reserve price is correlated to the stablecoin, protecting it from crypto market variations (fiat-backed stablecoin).
Tokenisation is the process of creating digital assets on the Blockchain. This process can result in the creation of digital financial instruments called tokens. In theory, tokens can be any class of asset (e.g. company shares, derivatives, cryptocurrency, structured product) or a fraction of these. In Switzerland, tokens carry the same rights as real-world assets, acting as a digital store of value but much more flexible and global. Thanks to the blockchain, a token can safely move at the speed of an email, with no intermediation.
A blockchain wallet is a software program that holds the unique address of your digital currency. If you wish to purchase or spend cryptocurrency, you will require a wallet. When you create a blockchain wallet, a private key (seed phrase) will be generated.If a wallet is non-custodial, the user has complete control over their keys, and in turn, their assets to freely transact in DeFi platforms.
Smart contracts are programmable agreements that can be deployed and run on a blockchain. They automatically execute transactions if the agreed conditions are met without the need for an intermediary. Once a smart contract is deployed, it's not possible to change the given rules.
MetaMask is a popular non-custodial cryptocurrency wallet that allows users to securely store, send, and receive digital assets like USD Stablecolb, Matic, Ether and other ERC-20 tokens. Metamask functions as a road between a user's web browser and the Ethereum blockchain, allowing them to interact with decentralised applications.
To install Metamask, visit the download page. If you are using Metamask for the first time, you can create a new wallet by selecting 'Create a Wallet'. Make sure to copy and save the seed phrase somewhere safe and do not share it. If you have a wallet you'd like to import using a seed phrase simply select 'Import Wallet'.
