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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.

11 Key Days are Coming for the Future of Ethereum

18 hours ago 3 minute read 0 comments Talha.Khalid

Some companies applying for spot ETFs for ether (ETH), Ethereum's native cryptocurrency, are making changes to their proposals. This occurs just 11 days before the United States SEC defines whether or not to approve these ETFs, which would determine...

Why most investors throw 100 to 1000 USD and do not go big in altcoins

19 hours ago 5 minute read 0 comments Long term coin

    When investing, feeling matters, and when we invest in a coin that is not in the top 200 on coinmarketcap, we always have doubts about our investing decisions. That doubt is genuine in most cases for most investors, but they overlook it and gambl...

Crypto founders should focus on Community bonding and not only on products

18 May 2024 3 minute read 2 comments Long term coin

Many cryptocurrency token holders give rewards to the token holders so they stick to the platform, but they mostly fail because they need to focus on the bonding procedure. If the token holders do not have emotional bonding, they are likely to fail a...

Function Island News: $xFARM Launch, 9INCH V3 LP, Massive Price Growth and More!

17 May 2024 2 minute read 0 comments The DeFi Prince

Welcome back folks! Today, we have some more great news to share with you about Function Island! Since our last article, we have seen the launch of our $xFARM token, the launch of some V3 pairs on 9INCH, a huge pump in our $ISLAND and $FARM tokens, a...

DeFi 102: Liquidity Pools and Liquidity Mining

17 May 2024 5 minute read 1 comment Michael @ CryptoEQ

You are reading an excerpt from our free but shortened abridged report! While still packed with incredible research and data, for just $40/month you can upgrade to our FULL library of 60+ reports (including this one) and complete industry-leading ana...

Defi Safety 101

17 May 2024 6 minute read 5 comments benn0xake

I've been hacked; I've been scammed; I've been laughed at for getting hacked and scammed. And I'm still here full-throated in defi.  Why?  Unscrupulous deviants steal from me and the rewards in decentralized finance still far outweigh the bumps and b...

Sociogram: Web3 Social Network - The Future of SocialFi A Platform with Endless Possibilities - Engage to Earn

16 May 2024 1 minute read 0 comments ShadowCrypto

Sociogram Web3 Social Network - The Future of SocialFi with Endless Possibilities Engage to Earn     Sociogram is a multichain social network tailored for the Web3 community, aiming to connect Web3 creators, projects, and genuine users.   Visit Soci...

Bitcoin Allocation Stone Rolling Downhill - Part 2

16 May 2024 2 minute read 2 comments davidgyoung

The purpose of this post is to follow up on a prior post about Bitcoin allocation gaining momentum. First, a couple of recent posts from this platform: Bitcoin Allocation Gaining Momentum - Part 1 BOJ Ends YCC After 20+ Years Supporting UST and Nobod...

NIP-9 Proposal Implementation is in Progress

16 May 2024 3 minute read 0 comments NULS

NULS Community Briefing   ◢ Topics: Technical Progress SCO Collaboration & Trading Community Governance   ◢ Technical Progress Assisted NTC in integrating Nerve cross-chain protocol. Assisted NTC in completing BTC cross-chain protocol. NIP-9 imple...

Unlocking the Treasure Trove: How to Navigate the Cryptoverse and Hoard Your Wealth in 2024

16 May 2024 3 minute read 0 comments Louky

  Ahoy, fellow crypto adventurers! As we set sail into the vast ocean of digital riches, let's chart our course through the tumultuous waves of the cryptoverse and unearth the secrets to amassing your fortune in 2024.   From riding the bullish tides...