Understanding Defi

If you are new to DeFi I think you should understand this basic concept

Some key concepts to understand about DeFi are:

  1. DeFi refers to financial applications built on blockchain networks that aim to provide open, permissionless, and trustless alternatives to traditional financial services.
  2. DeFi projects offer features such as lending, borrowing, decentralized exchanges, and yield farming.
  3. DeFi protocols allow individuals to participate in activities like lending, borrowing, trading, and earning interest on their digital assets.
  4. DeFi eliminates the need for intermediaries like banks or traditional financial institutions, giving individuals unprecedented access to financial services.
  5. Analyzing DeFi projects involves evaluating the team, technology, community, and adoption to determine their potential success.

Thanks for this detailed explanation :+1:


Thanks mate

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