Back to Decentralized Finance (DeFi) Primitives
Duke University

Decentralized Finance (DeFi) Primitives

DeFi and the Future of Finance is a set of four courses that focus on decentralized finance. The second course is called DeFi Primitives. It is recommended that you take the first course, DeFi Infrastructure, before this course. In this course, we talk about transaction mechanics and introduce both fungible and non-fungible tokens – or NFTs. The course explores the important issue of custody (holding private keys). The course then explores supply adjustment which includes the minting and burning of tokens. The mechanics of bonding curves are introduced. The course then explores the role of direct as well as indirect incentives in the DeFi system. We then analyze swaps or decentralized exchange. We begin by contrasting DEX with centralized exchange (e.g., Coinbase or Binance). The course details the mechanics of Automated Market Makers and provides a number of detailed examples. There is a discussion of impermanent loss as well as (legal) front-running. We end the course by exploring both collateralized and flash loans.

Status: Key Management
Status: Market Liquidity
IntermediateCourse6 hours

Featured reviews

TH

5.0Reviewed Aug 30, 2024

The AI help tool was also nice to stay involved. With attention deficit I struggle with focus but I am working on it.

SP

5.0Reviewed Jul 12, 2022

I​ like the way the professor communicates in this course. He is very clear and I can understand him. Thank-you.

TM

5.0Reviewed Dec 29, 2021

Course is very insightful. It broadens the scope of understanding the mechanisms involved from minute to complex transactions.

EL

5.0Reviewed Nov 21, 2021

Well taught!! I Suggest this to people who wants to start and know more about DeFi nd Crypto.

PS

5.0Reviewed Feb 18, 2023

Excellent for anybody who want to lean about Decentralized Finance. As I am an old Blockchain learner the 4th week of the course was way too easy.Thanks,Paras

DR

5.0Reviewed May 19, 2024

Very good information and the presentations and explanations were perfect.

IS

5.0Reviewed Aug 30, 2023

It was actually quite great. I am excited to learn more about DeFi as well as the programming perspectives!

LL

4.0Reviewed Feb 19, 2022

Es increible todo el conocimiento que se adquiere en este curso. Lo recomiendo!!

BP

4.0Reviewed May 24, 2025

The course is very easy to understand, but the information is from 2021. This is a concern.

GM

4.0Reviewed Jun 18, 2022

I​t is an interesting cource. Gives basic understanding of DeFi Structure and how it works.

LT

5.0Reviewed May 26, 2022

Great content and explanation by Prof. Harvey! Love how he explain the terms using simple and understandable analogies that is applicable.

VM

5.0Reviewed Sep 17, 2025

Excellent insights. The videos are slow paced to address all type of listeners. Thanks

All reviews

Showing: 20 of 81

Mike Morabito
5.0
Reviewed Dec 23, 2021
Sahir Hadkar
5.0
Reviewed Jan 11, 2022
tousina martin
5.0
Reviewed Dec 30, 2021
Earl John Lugatiman
5.0
Reviewed Nov 21, 2021
Stephen
5.0
Reviewed Nov 25, 2021
Murray Steel
5.0
Reviewed Dec 19, 2021
Keith Murphy
5.0
Reviewed Nov 29, 2021
kieran kay
5.0
Reviewed Dec 20, 2021
Arvind Kumar Srivastava
5.0
Reviewed Jan 31, 2022
COLLEEN M CARLEY
5.0
Reviewed Mar 30, 2026
Sai Aditya
5.0
Reviewed Jun 8, 2022
Ivy Zhou
5.0
Reviewed Jan 12, 2026
Manuel Echenique
5.0
Reviewed Mar 17, 2022
Yusuf Jones
5.0
Reviewed Mar 15, 2022
Max Korsun
5.0
Reviewed Oct 1, 2025
Mr. Apai
5.0
Reviewed Dec 26, 2022
Parasnath Singh
5.0
Reviewed Feb 19, 2023
Lin Foong Teo
5.0
Reviewed May 27, 2022
Timothy Hooker
5.0
Reviewed Aug 31, 2024
Scott Parker
5.0
Reviewed Jul 13, 2022