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Kazyy❄️🎩

@kazy

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DeFi (Decentralized Finance) refers to a set of financial services and applications built on blockchain technology that operate without intermediaries like banks or traditional financial institutions. Instead of relying on centralized entities, DeFi uses smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. A DeFi protocol generally refers to a set of rules or guidelines that define how decentralized financial services work. These protocols aim to provide transparent, permissionless, and open financial services. Some popular examples of DeFi protocols include: 1. Uniswap: A decentralized exchange (DEX) that allows users to trade cryptocurrencies directly from their wallets without the need for an intermediary. 2. Aave: A decentralized lending and borrowing platform where users can lend their assets and earn interest or borrow assets with collateral.
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