Today on the Brief:

• US Gov’t forces China’s Houston consulate to close
• US previously-owned housing market grows 20.7% May to June
• Insider stock selling reaches record levels

Our main discussion: DeFi 101

Today’s episode of The Breakdown is a primer for anyone who has lost track of the terminology surrounding decentralized finance. In it, NLW goes over:

• DeFi’s background and origins
• Market making in a traditional context
• Automated market making 
• How liquidity mining incentives economic participation 
• How decentralized exchanges differ from centralized exchanges 
• What “yield farming” actually means
• Why we shouldn’t be concerned about the Yield Farming bubble