If you are new to DeFi I think you should understand this basic concept
Some key concepts to understand about DeFi are:
- DeFi refers to financial applications built on blockchain networks that aim to provide open, permissionless, and trustless alternatives to traditional financial services.
- DeFi projects offer features such as lending, borrowing, decentralized exchanges, and yield farming.
- DeFi protocols allow individuals to participate in activities like lending, borrowing, trading, and earning interest on their digital assets.
- DeFi eliminates the need for intermediaries like banks or traditional financial institutions, giving individuals unprecedented access to financial services.
- Analyzing DeFi projects involves evaluating the team, technology, community, and adoption to determine their potential success.
