WTF is DeFi?
- DeFi or decentralized finance refers to permission-less and transparent financial ecosystems powered by blockchain networks.
- DeFi architecture eliminates the need to use financial services under regulation of governmental and financial authorities.
In the wake of the DeFi Summer of 2020, DeFi continues to scale in popularity in the financial services world. Up until March of 2021, the total value of DeFi contracts accounted for over $41 billion. The disruptive financial technology aims to democratize financial services through a permissionless open source system. DeFi holds a significant appeal for individuals who may not have access to funding sources or traditional banks and financial institutions.
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