Decentralized Finance (DeFi) project is the blockchain based finance that does not depend on brokers, exchanges or any other central finance intermediaries for traditional finance instruments. Instead they rely on smart contracts based on blockchain, one such is Ethereum. DeFi allows its users to trade safely and earn an interest in saving like an account. As of January 2021, approximately $20.5 billion was invested in DeFi.
“One could envision decentralized finance impacting the financial world the same way that open-source has changed software products.”
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