What is DeFi?

DeFi is a peer-to-peer financial system built on blockchain technology. It removes the need for traditional intermediaries like banks by using smart contracts and decentralized applications (DApps).

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How It Works:

1. User Retains Control of Funds – Users manage their assets directly via wallets.

2. Access via DApps – Financial services (like borrowing, trading, etc.) are provided through decentralized apps.

3. Blockchain Transactions – All transactions are recorded and secured on the blockchain.

4. No Intermediaries Needed – Services are open, permissionless, and often automated via code.

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Advantages:

Accessible – Open to anyone with internet access.

Programmable – Features and logic are coded into smart contracts.

Transparent – Activities and rules are publicly visible on the blockchain.

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Famous Use Cases:

Lending – Earn interest or borrow crypto directly.

Decentralized Exchanges (DEXs) – Trade tokens without a central authority.

Stablecoins – Digital currencies pegged to stable assets (e.g., USD).

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