Internet | Fun Fact™: decentralized finance (defi)

Defi is an abbreviation of Decentralized Finance, which means finance decentralized.

Defi refers to financial applications built on blockchain technology, such as Ethereum.

Defi allows users to access financial products and services without the need for traditional financial institutions.

In defi, users have full control over their assets and can make direct transactions without intermediaries.

Defi allows users to obtain passive income through investment in defi protocols that produce interest or yields.

One of the most popular defi applications is the lending protocol, which allows users to borrow or lend Crypto assets.

Defi also includes exchange protocols, where users can exchange their crypto assets with other assets using smart contracts.

Defi allows users to create and manage their own portfolio using the defi application.

Defi can also be used as a way to open access to financial services for people who do not have access to traditional financial institutions.

At present, the Defi market has grown rapidly and the total locked (TVL) value in the Defi protocol reaches billions of dollars.

10 Interesting Fact About Decentralized Finance (DeFi)