DeFi.
Follow the mechanics of decentralized lending, swaps and other protocol-based financial positions. These explainers identify the inputs, permissions and conditions that turn a displayed balance or quote into a real obligation or transaction.
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A suggested order for the essentials.
- 01DeFi collateral: how health factor and liquidation work
A health factor measures a borrowing position against liquidation rules. Understanding its inputs matters more than memorizing a supposedly safe number.