Are you browsing DeFi jobs, wondering whether to start a career in decentralised finance? There is increasing demand for candidates with DeFi experience, and the rewards can be lucrative, even for entry-level DeFi jobs.
This guide explores the many career opportunities developing in DeFi jobs. In addition, this fast-growing sector is unlikely to slow down in the foreseeable future. Moreover, people are gradually becoming more comfortable with DeFi lending platforms. As well as offering attractive alternatives to conventional finance, the leading platforms have developed a solid reputation.
Above all, in this guide, you’ll discover the skills you need for an entry-level DeFi position and how to become a DeFi developer earning a well-paid salary.
What is DeFi?
DeFi is short for decentralised finance. It’s a term for financial services available on public blockchains, such as Ethereum, which has the highest number of blockchain developers worldwide.
DeFi is a unique approach to traditional finance. DeFi may offer similar services like borrowing, trading derivatives and assets, earning interest, lending etc. Still, the primary difference is that DeFi is a global peer-to-peer system, not controlled by third-party intermediaries.
DeFi is permissionless and open to everyone. It leverages blockchain infrastructures to create an entire ecosystem of financial services that offer enhanced benefits, such as higher interest rates and lower borrowing fees than conventional banks.
Why are more people looking for careers in DeFi jobs?
Over the last few years, the growth of decentralised finance has exploded, and it’s fast become an integral aspect of the blockchain space. Subsequently, there are more career opportunities in DeFi opening up to qualified candidates.
People want to learn how to become a DeFi developer or pursue Uniswap careers. Uniswap is a financial marketplace with a growing ecosystem of DeFi apps. It’s accessible to anyone and used by traders, developers and liquidity providers.
Above all, in the DeFi sector, we have seen an ever-increasing demand for experienced blockchain developers and lucrative DeFi solutions careers for suitable candidates.
How to get started in DeFi
The first step to applying for DeFi jobs is learning about decentralised finance and DeFi solutions. In addition, become familiar with DeFi lending platforms like Uniswap and cryptocurrency exchanges that offer DeFi solutions.
How a DeFi lending platform works
Suppose you have purchased fifty $ETH (Ethereum tokens). You decide to hold the tokens for an extended period, but you’d like to make interest without selling your $ETH.
The next step is registering with a reputable lending platform and locking in your $ETH tokens for a pre-determined amount of time and applicable interest.
Meanwhile, someone else registered on the lending platform and wants to borrow $ETH. The platform connects this person with you, so it becomes a peer-to-peer transaction, with a defined contract with payback time and interest agreed.
In addition, it’s important to know that reputable DeFi platforms have insurance policies in place, so that should the borrower default on payments, your $ETH holdings are protected.
The beauty of this DeFi example is you are not relinquishing your Ethereum holdings. They still belong to you, so you can continue to profit from Ethereum market price increases.
Are DeFi platforms safe?
The reputable DeFi platforms are transparent so that you can monitor performance. For instance: –
- Uniswap has a $1.1 trillion trade volume
- The Aave liquidity protocol has $10,591,125,882.17 of liquidity locked across seven networks and more than 13 markets (August 22)
- Compound Finance has staggering amounts of locked tokens, including an Ethereum (ETH) total supply of $796.55 million
Compared to conventional banking, interest rates with DeFi platforms are significantly more. Are there risks? Of course. There are associated risks with any financial transactions, not just DeFi solutions.
Are entry-level DeFi jobs available?
Entry-level jobs in DeFi are notably on the development side of a business, essentially working on implementing smart contracts coded into a decentralised app.
In addition, most DeFi projects are Ethereum-based, working with the Solidity programming language and ERC-20 tokens which are the Ethereum standard.
Learning these essential skills could be your first step to an exciting career in DeFi jobs. Read this interesting guide if you’re interested in entry-level cryptocurrency jobs with no experience.
What other skills do you need for jobs in DeFi?
The more relevant DeFi skills you have, the more likely you can secure a job in decentralised finance. For instance, we will detail the job requirements for a DeFi developer: –
- Ideally, a bachelor’s degree in computer science or IT
- Comprehensive knowledge of things like cryptography, data structures and networks, the basic building blocks of a DeFi project
- Financial expertise: An interest in and understanding of finance and banking gives you a potential competitive edge over other applicants
- Solidity and ERC-20 expertise
- Practical experience: Demonstrate your expertise by creating working projects of your own
How to become a DeFi developer
If you’re ready to apply for DeFi developer roles, contact the CB Recruitment team and submit your resume. Moreover, we have new positions listed daily and can help you present your application to achieve the best possible result.
In addition, keep adding to your skills and studying DeFi projects. Research and read DeFi whitepapers and assess the type of platform that appeals to you. Moreover, gather as much information as possible, such as: –
- What makes a DeFi platform successful?
- What are the business solutions and business plans?
- Why does one DeFi platform outperform another?
- What is the business culture?
- Who is behind the DeFi team? What is their background?
Once you understand the platform you would like to work with, we can help you tailor your resume to those types of DeFi companies.
What are DeFi jobs’ salaries?
Decentralised finance is a lucrative sector. As an entry-level DeFi smart contracts developer, you can anticipate a salary of between £75,000 to £125,000+. With more experience, these figures could be higher.
The demand for DeFi solutions is increasing exponentially across many business sectors worldwide. Subsequently, many excellent online courses are available to budding DeFi and blockchain developers.
101 Blockchains: Introduction to DeFi-Decentralised Finance Course
The 101 Blockchains Introduction to Decentralized Finance Course is an excellent start to increasing your working knowledge of DeFi.
During the self-paced course, you’ll learn about existing DeFi products and tools and the potential scope of DeFi. On completion, you’ll have a high level of understanding to present yourself as an enterprise expert.
You may find the training helpful if you are in financial consulting, developing smart contracts, an advisor to enterprise executives or a freelancer wishing to diversify their skills.
- Module 1: What is DeFi?
- Module 2: Why DeFi?
- Module 3: The DeFi Ecosystem
- Module 4: DeFi Use Cases
- Module 5: DeFi Risks
- Next Steps
You have one year to complete the course with unlimited access to the materials.
Blockchain Council: Certified DeFi Expert™
This Blockchain Council Certified DeFi Expert™ certification is a self-paced 5-hour online course. Above all, the training helps students gain foundational knowledge of decentralised finance.
You will achieve in-depth knowledge about DeFi, including tools and processes, apps and services, lending protocols and more.
Blockchain Council’s excellent reputation as a course provider means this certificated training is an ideal starting point for preparing to apply for DeFi jobs.
- Introduction to CDE
- Understanding the Basics
- Introduction to DeFi Technology
- DeFi Use-Cases
- Risks and Challenges
- Certified DeFi Expert™ Exam
Conclusion: Defi Jobs: Exciting careers in decentralised finance (2022)
DeFi lending platforms are growing exponentially. With declining interest rates of conventional financial institutes, people seek alternatives to make the most of their finances. DeFi offers users opportunities to earn financial gains (without third-party involvement) whilst retaining ownership of their crypto holdings. These benefits contribute to the number of bankless jobs in DeFi.
Decentralised finance allows people to regain control of their finances, making their own decisions without consulting a lending manager. That’s a hugely attractive proposition compared to the authoritative approach in finance that we’re all accustomed to.
In addition, DeFi isn’t limited to the banking industry. It’s across all levels of finance, including insurance platforms, decentralised exchanges, derivatives markets, and much more.
Some financial experts believe that decentralised finance could transform how we handle our money. It could mean we no longer rely on conventional financial institutions, unable to compete with lower lending and borrowing rates on DeFi platforms.
According to a Consensys.net report in February 2022, the total monthly revenue on the leading DeFi protocols was $189 million. That figure is still high, considering declining figures as cryptocurrencies slid into a bear market.
In addition, deposits and loans slowed down because of ongoing risk-off behaviour, which is a typical reaction to a declining market. However, the top three lending protocols (Aave, Compound and Maker) received $28.9 billion in deposits, and the total borrowing value was $15 billion.
Finally, if you’re interested in pursuing a career in DeFi, talk to the CB Recruitment team, submit your resume, and we will help you find your ideal DeFi job.
Is DeFi a good career?
Yes, a role as a DeFi developer is well paid and presents opportunities for career growth. With a few prerequisite skills, you can anticipate a salary package of £75,000+.
How do I become a DeFi programmer?
You will need to understand computer programming, including languages. In addition, you’ll have an excellent working knowledge of cryptocurrency and blockchain functions.
What does a DeFi analyst do?
A DeFi analyst works with financial forecasting. Much like any financial analyst, the role includes: –
- Income statements
- Balance sheets
- Risk analysis
- Crypto assets & DeFi protocols reports
- Treasury forecasts and reports
- And more
Above all, if you want a career as a DeFi analyst, you must have exceptional financial skills and enjoy analysis and data reporting.
What is the difference between DeFi and crypto?
Many cryptocurrencies are a “store of value” operating on a blockchain independently, such as Ethereum and Bitcoin.
With DeFi, you can trade, borrow and lend cryptocurrency like Ethereum and Bitcoin. In addition, you have DeFi tokens, such as Curve Finance (CRV), SushiSwap (SUSHI), Compound (COMP), and Loopring (LRC), found on the cryptocurrency list by market capitalisation on CoinMarketCap.
DeFi tokens are native to individual platforms like $COMP for Compound, for instance, and the tokens allow access to the complete range of financial applications on the platform.