Sign In
Not register? Register Now!
Essay Available:
Pages:
8 pages/≈2200 words
Sources:
1 Source
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Research Paper
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 44.93
Topic:

DeFi Protocol Analysis: Decentraland

Research Paper Instructions:

 

The overall idea of the assignment is that you write a research report on the product. Therefore, do not simply answer the questions, develop a narrative.

Part 0: Entities to research: pick one of

• Aave (https://aave.com/)

• Synthetix (https://synthetix.io/)

• Index Coop (https://www.indexcoop.com/)

• Enjin (https://enjin.io/)

• Decentraland (https://decentraland.org/)

Part 1: Basic description

Briefly, in simple terms and using your own words provide the following:

1. Project/Company Description - “name, and what they do”

2. Problem - “what is the problem they are trying to solve”

3. Solution - “how are they solving it”

4. Team – “who is in the team, names, roles, affiliations”

5. Link to codebase repo – “e.g., github”

Part 2: Technology

In simple terms and using your own words:

1. Elaborate on the problem that the project is trying to solve. Here you can provide more details and discuss sector of operation, particular use of the product, underlying finance concept and related pain points.

2. Describe a standard operation of the protocol.

3. Discuss interoperability. Does the product “live” on a single platform (e.g. Ethereum) or does it allow users/accounts on different platforms to interact with it?

Part 3: Business model, financing, utility/payments tokens

Provide information on the following items.

1. Funding sources: how is the product development financed? (e.g., external VC funds, token-issuance)

2. Is there a payment or utility token and if so, how does it work?

3. How is the ongoing development financed (foundation, flow payments)?

4. Business model: how does the product create revenue for the developers? (I may not create revenue, it may rely on token price appreciation or on ongoing issuance of tokens, etc.)

5. Customers: for whom is the protocol creating value? Who are the protocol’ most important users?

Part 4: Market and competitors

What are alternative or competing protocols/dapps? Note that they do not have to be built exclusively on top of the same blockchain. Pick a competitor and describe a main difference/competitive advantage. Is the competitor a substitute or complement?

Part 5: Governance and token model

How are key parameters of the protocol decided? Is there a token and if so, how does the token work and what does it do? Describe the process.

 

Research Paper Sample Content Preview:

DeFi Protocol Analysis: Decentraland
Name
Institution Affiliation
Course
Date
DeFi Protocol Analysis: Decentraland
Part One
Decentralized Finance, or Defi, is a new financial technology based on blockchain principles. It uses smart contracts to offer users financial services without intermediaries such as banks and brokerages. In the United States, there are clearly defined rules formulated by the Federal Reserve and Securities Exchange Commission to govern how people access financial and capital services directly from centralized financial institutions such as banks and brokerages (Zetzsche et al., 2022). In the traditional centralized system, banks and third parties hold money, facilitate its movement from one party to another, and charge a separate fee for their services. Defi challenges this norm by offering people peer-to-peer digital exchanges. It eliminates the fees that brokerages, banks, and other financial institutions usually charge people for using their services. In the Defi system, users can store money in secure digital wallets and transfer it to others (minutesZetzsche et al., 2022). With an internet connection, people can borrow, lend and trade using different software that records and verifies financial activities in distributed financial databases. This database is accessed across different locations as it aggregates and gathers client data and uses the consensus mechanism to verify it. Thus, DeFi allows any individual to use financial services anywhere in the world and gives users more control over their money via personal wallets.
One of the projects utilizing this technology is Decentraland, a virtual reality platform thriving in the fast-growing metaverse sector (Blockchain Council, 2022). The platform allows users to become a part of its digital community. Members of this community buy digital assets such as collectables, plats of land artworks and non-fungible tokens (NFTs). The platform allows users to take real and full ownership of their digital assets. This is not the case with various other standard games because gamers lose all efforts and time invested into their games. The countless funds and time spent on game upgrades in standard games are usually difficult to recover. Nevertheless, on Decentraland, a token referred to as MANA allows gamers to convert these digital funds and assets through decentralized exchanges into crypto-currencies such as Ethereum (Blockchain Council, 2022). It operates on a blockchain technology called Ethereum and takes advantage of its security and functionality to offer an exceptional gaming experience to gamers. The platform was launched in 2017 and operated by a team of experienced and knowledgeable individuals ‌(Viktor, 2022). Esteban Ordino is the tech lead; Ariel Meilich is the project lead; Agustin Mendez is the head of the engineering department; Fede Molina is the head of marketing and growth; Nicolas Earnshaw is the developer experience manager; Alejandro Jimenez is the senior software engineer; Bence Verga is the game designer, Brian Amadori is the technical lead, and Dave Carr is the marketing specialist.
Part Two
As indicated earlier, most of today’s standard games render the gamer’s efforts and funds useless because i...
Updated on
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:
Order

You Might Also Like Other Topics Related to censorship essays:

HIRE A WRITER FROM $11.95 / PAGE
ORDER WITH 15% DISCOUNT!
Order Now