As blockchain technology continues to evolve, we're seeing a rise in DeFi lending platforms. These platforms allow users to lend and borrow cryptocurrencies, providing a new source of income for some and increased liquidity for others. But how do they work?

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DeFi lending platforms utilize smart contracts to facilitate lending and borrowing, ensuring secure and transparent transactions. Users can earn interest on their deposited assets or borrow funds at competitive rates, making it an attractive option for crypto holders.