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Decentralized Finance, DeFi for short, is a term used to describe the decentralized services and products made possible with the help of decentralized technology. Example of DeFi includes lending services, decentralized exchanges, marketplaces, stablecoins, derivative platforms and much more. Other entities in the ecosystem include infrastructure platforms, payment providers and custodians.

Decentralized finance is an upgrade of traditional financial systems, which are centralized and as a result of this centralization, prevents a lot of individuals from accessing financial services and contributing to the global economy. The primary advantage of DeFi products is its ability to cater to the unbanked and undocumented, which form the majority of the world’s population. Many Defi entities describe this as being the most salient feature of decentralized systems.

These open source financial initiatives is a key part in the growth of the crypto ecosystem, as several projects have built their services and products on reducing the trust involved in financial services. This is in contrast to “fintech”, which primarily focuses on new emerging systems that are beneficial, but centralized.

The DeFi ecosystem has been steadily growing since the launch of projects during the boom of 2017, and current statistics show the total value locked in the ecosystem to be roughly $471 million. Examples of platforms include the MakerDAO ecosystem, Augur, Bancor and the Kyber Network.

Given that decentralized finance tools is at its optimum with a greater number of users, multiple scaling solutions, such as second layer protocols, are being worked on - including the Lightning Network, which has been growing in usage over the past year. 

In this tag, read more about decentralized finance (DeFi) news, price predictions, opinions and analyses created by users.

Interpol 'Red Notice' issued for Do Kwon

2 hours ago 1 minute read 1 comment Patch

South Korean prosecutors told Bloomberg that Interpool had issued a Red Notice for Do Kwon. And in case you like me only have heard about a Red Notice, but do not fully know what it is. According to Interpol's website, this is what it is: "Red Notice...

Introducing PORTX Token’s Deflation Model

3 hours ago 2 minute read 1 comment Melusine

  By Maximiliano Stochyk Duarte Hello ChainPorters, ChainPort is proud to announce an addition to the tokenomics of the PORTX token. The team will integrate this functionality into the PORTX token’s smart contract. PORTX token will n...

Battle Challenge with Life Sapper

3 hours ago 1 minute read 0 comments Steve Hodl

Hello Splinterfans! Welcome to my entry for the Share your Battle Weekly Challenge! More details about the challenge can be found here. I have been slowly improving my death deck, but still, it is not one of my strongest decks and also I do not know...

Tellor Marketing/Branding Call September 23rd 2022 

13 hours ago 39 minute read 0 comments Tamsay

Links  Youtube link:  Official links:    Summary  In this call the Tellor core team discusses it's approach to marketing and branding in the past/present and where...

Darkblock Announces New Publishing App for Web3, Decentralized Protocols for Unlockable Content for Crypto Users

13 hours ago 1 minute read 0 comments davidcash888

Introducing Darkblock, a cutting-edge Web3 tool for creating unlockable content.  This week the Darkblock team announced a new version of their publishing app, just in time to be featured at NFT.NYC. A Darkblock is an unlockable add-on for an NFT sto...

Data Sunday...It's a thing now. Whale acitvity AAVE,LINK,AMP,OMG,LTC,CHZ

15 hours ago 1 minute read 1 comment vanassen.eth

   Some more data for you for the degens, accumulated in Santiment. Shows whale activity In AAVE, LINK, AMP, CHZ, OMG, LTC.        Gaining numbers in the space:      1. AAVE addresses that hold between 1k and 1m AAVE have increased by 54.4%     2. LI...

Passively Increase your Funds via DeFi

15 hours ago 2 minute read 0 comments TheJan

Hello fellow investor friend! This article tells you about the basics of earning money via DeFi (Decentralized Finance) portals. DeFi covers all kinds of aspects, from alternative currencies that are not managed in a centralized way, up to services t...

A Reminder from the CryptoChicken to Keep it Together Man

15 hours ago 1 minute read 0 comments Drake Flyer

BITCOIN made millionaires. Those who invested at beginning (yes, 1 BTC was once under 100 dollars) - are the only ones who reaped the insane returns. It won't make you a millionaire, sorry. Unless you already have several thousand dollars (hundreds o...

Tokenomical Crypto Facts

16 hours ago 1 minute read 0 comments Spiritual Business Man

  Yield Curve - Different rates of return. Are these institutionally driven. Watered down market. Retail interest gone? Is Avalanche involve in a scandal. Denied they where involved. But will still pump in a bull market. Dex trader Joe. Olympus and t...

Stronghands Money Launches Its Rewards As A Service NFT Collection

16 hours ago 2 minute read 0 comments The DeFi Prince

Welcome back to The Cronos Experience. Today, I’ll be discussing my favorite project on Cronos, Stronghands Money, and their new NFT collection based on a novel and unique concept: Rewards as a Service (RaaS). This collection, known as “Degen Donny”...