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Fantom CMO and CoinStats are Kicking Off a DeFi Literacy Month

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Fantom CMO and CoinStats are Kicking Off a DeFi Literacy Month

Fantom Foundation started the new month with an exciting announcement, notifying its community that its own CMO, Simone Pomposi, would join CoinStats in organizing DeFi Literacy Month. October will be the month of learning and education, as both projects remain firmly convinced that DeFi is the future and that it is important for the community members to learn of it, and of its potential.

CoinStats, which offers crypto users to manage their crypto accounts together and from one place, already has well over 1 million customers. A lot of them are already DeFi users, but the platform believes that DeFi will continue to grow and expand and as such, that it is the future of blockchain technology.

To that extent, it seeks to turn October into a DeFi Literacy month and share exclusive DeFi content, such as Twitter Spaces with experts, articles explaining finer details of the subject, and alike.

Why learn DeFi?

The platform created a page explaining why it is important to learn DeFi, stressing that this sector of the crypto industry can offer remarkable financial freedom in the near future. Indeed, there have already been reports of unbanked and underbanked individuals from around the world changing their lives and unlocking new opportunities thanks to the availability and openness of the DeFi sector.

Companies like Fantom and CoinStats believe that more education and knowledge on the subject could push this potential even further and help change the lives of countless other individuals.

Many in the crypto industry have already recognized the potential of DeFi, which is why a lot of money has already been invested in it, despite the prices that have been falling for almost a full year now. For example, the DeFi TVL is currently at $38 billion, which is a figure that has increased as many as 4 times since July 2020, when DeFi first blew up.

The past four years have also seen global blockchain spending increase by more than 7 times, which is also partially because of this technology.

What will users learn during the event?

As mentioned, the event will last throughout the month, and during the first week, users will be educated on the very basics of DeFi, including discussions of protocols, the potential, the risks, and alike. Week two, however, will allow users to master DeFi Swapping and learn more about AMMs, Layer 2, and other more complex matters of the sector.

Week 3, however, will take users to the next level by teaching them about yield farming, DeFi Earn, the compound effect, and more. Finally, as the month approaches its end, week four will teach users about DEX, DAO, and REKT in DeFi, and preparing them to take off on their own, join communities, and participate in the creation of the future for all the projects that interest them.

To learn more about Fantom, visit our Investing in Fantom guide.

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Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.