Track 2

DeFi 101

AMMs, lending, yield, impermanent loss — with working math

Length

3h · 4 quests

Progress

0/4

How Uniswap's constant-product formula actually prices trades. Why Aave's collateral ratio matters. When impermanent loss turns into permanent loss. Taught through the math, not the memes.

Prerequisites:Crypto Fundamentals

01AMM math — the x × y = k formulapython

Uniswap doesn't have an order book. It has a math curve. Understand the curve and you understand 90% of DeFi.

10min

02Slippage grows with trade sizepython

Trading 0.1% of pool depth = ~0.1% slippage. Trading 10% of depth = ~10% slippage. Size matters.

8min

03Impermanent loss explained with mathpython

Put $10K into an LP. ETH 2xs. Take out your LP tokens. You have LESS than $20K. That's IL.

12min

04Aave-style lending — collateral ratios and liquidationspython

Borrowing in DeFi: deposit $10K ETH, borrow up to $7500 USDC. If ETH drops enough, you get liquidated.

10min