Continuing the series of specialized seminars on blockchain technology applications, aimed at spreading knowledge to a wider community, the Vietnam Blockchain Association (VBA) is organizing the second seminar with the theme “The Pillars of Decentralized Finance: From Theory to Application.”
On the afternoon of July 10, 2024, the thematic seminar “The Pillars of Decentralized Finance – From Theory to Application: Yield Farming, Lending, and Liquid Staking Derivatives” took place at the Hanoi office of the Vietnam Blockchain Association.
The seminar featured contributions from financial and technology experts, including Dr. Nguyen Trung Thanh, Chairman of the VBA Web3 Committee and Founder of the decentralized network TrustKeys Network; Dr. Do Van Thuat, Technology Expert at VBA; and Mr. Nguyen Thanh Nhan, Co-founder of Amnis Finance.
At the seminar, experts shared knowledge and provided an overview of Decentralized Finance (DeFi), focusing on its key pillars: Yield Farming, Lending, and Liquid Staking Derivatives. They discussed how these mechanisms operate, highlighted important considerations, and alerted about potential user risks.
According to Mr. Nhan, “Globally, around 10 million people are currently using Decentralized Finance (DeFi), with the 24-hour trading volume on DeFi exchanges rising from $1.7 billion to $5.1 billion between October 2023 and June 2024, according to DefiLlama. The vibrant activity in DeFi directly competes with traditional products and services. For example, traditional transactions typically take 1-3 days to process, whereas DeFi transactions are completed in just a few seconds. Additionally, DeFi offers higher efficiency for financial transactions, reducing costs by 30-50%, particularly in transaction and transfer fees.”
Following Mr. Nhan’s presentation, Dr. Nguyen Trung Thanh, Chairman of the VBA Web3 Committee, and Dr. Do Van Thuat, a Technology Expert at VBA, continued to share their knowledge and practical applications in DeFi while addressing audience questions.
Beyond theoretical and academic perspectives, seminar participants also had the opportunity to directly experience several DeFi platforms under the guidance of experts. They engaged in discussions, asked questions, provided feedback, and received valuable prizes.
The seminar is part of the broader effort by the Vietnam Blockchain Association and the Academy of Blockchain and Artificial Intelligence Innovation to realize the goal of bringing Blockchain and AI knowledge to every Vietnamese citizen. This is achieved through social programs such as Unitour for university students, the ChainTracer program for tracking fraudulent projects, the free virtual legal assistant “AI Law Lookup,” and the ABAII Edu online learning platform.
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