Decentralized finance, also known as "DeFi," is a type of financial system that is built on top of a blockchain network.
It enables the creation of financial applications and services that are decentralized and do not depend on a central authority or intermediary to operate. This means that users can interact directly with these financial services, without a bank or other financial institution having to act as an intermediary.
DeFi applications often use smart contracts to enable automatic, self-executed transactions based on predefined rules, which can make them faster and more efficient than traditional financial services.
Examples of DeFi applications include decentralized exchanges (DEXs like Pancakeswap), lending and borrowing platforms, and stablecoins.
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DECENTRALIZED FINANCE: DeFi
Decentralized finance, also known as "DeFi," is a type of financial system that is built on top of a blockchain network.
It enables the creation of financial applications and services that are decentralized and do not depend on a central authority or intermediary to operate.
This means that users can interact directly with these financial services, without a bank or other financial institution having to act as an intermediary.
DeFi applications often use smart contracts to enable automatic, self-executed transactions based on predefined rules, which can make them faster and more efficient than traditional financial services.
Examples of DeFi applications include decentralized exchanges (DEXs like Pancakeswap), lending and borrowing platforms, and stablecoins.