Decentralized Finance (DeFi) is an open, permissionless ecosystem of peer-to-peer financial applications built on blockchain technology and driven by smart contracts. It aims to recreate traditional financial services—like lending, borrowing, and trading—without the need for centralized intermediaries such as banks, brokers, or exchanges.
For centuries, finance has operated through centralized intermediaries: banks, brokers, and clearing houses. These institutions control who can participate, the…
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