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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.

How to open a CDP with Eth on Cryptosetups-Tutorial

4 Nov 2020 1 minute read 0 comments Cryptosetups

Hi everyone  Today I show you how to open a CDP (Vaults via maker) through using Eth. I like using this platform as it is very simple and still gives you a lot of features while never making it complicated. I show you: How you open a n...

KINGSWAP 👑 👑 Get the benefits of buying an NFTs 👑 👑

4 Nov 2020 3 minute read 1 comment Gato1

As long as Cryptocurrency exists, buying and selling will forever be a norm but the general challenge is the insecurities among the sellers and the buyers. This insecurity has caused a lot of harm than good such us unsuccessful deals leading to loss...

What got you Into Crypto?

4 Nov 2020 1 minute read 0 comments Vic1030

So... What got me into Cryptocurrency? Back in December of 2019  I was at an interesting crossroads in my life. I was recently laid off from my job and actually living off off of some investments from earlier in the year. Times weren't tough per say,...

Week 10 Update: New Vaults and More 🥖 Bread for the People!

4 Nov 2020 4 minute read 5 comments Farmer Chad

Life at the Farm illustrated by ClockworkWolf, the first placed winner of our Halloween themed Creativity Contest. 🚢 👨🏿‍🌾 Over 10 weeks ago, Harvest Finance and humble farmers everywhere embarked on a journey to easily and automatically earn the hig...

BETFURY is celebrating their birthday with massive Rewards ! Best BTC daily dividends ever !

4 Nov 2020 1 minute read 1 comment Crypto And Cocktails

Try your luck every 3 hours !! Spin and win the most huge prize up to 1 BTC! No wrong ways, only lucky chances. Each user from the Rank 2 has the opportunity to spin the wheel of fortune every 3 hours. Take away a lot of BTC, TRX, USDT, BTT and BFG t...

Looking at Yearn through the eyes of a Seer

4 Nov 2020 4 minute read 0 comments Ceazor

It's nearly a daily occurrence that I see people posting in the Yearn telegram channel, that "YFI is a scam," or that "YFI is going to zero." And to this, I feel I have some thought to contribute.  By just looking at the chart. I can understand why...

Wanchain 5.0 - Chapter 2: Storeman Economic Incentives & Slashing

4 Nov 2020 3 minute read 0 comments ZooKeeper

Introduction Wanchain 5.0’s economic incentives serve two primary purposes First, community members are rewarded to act as Storeman nodes building bridges to provide the cross-chain functionality. Second, malicious behaviors are punished by slashing...

Equilibrium’s Second Milestone Successfully Completed for W3F Grant

4 Nov 2020 1 minute read 0 comments Equilibrium

You will recall from our earlier communication that Equilibrium is working on a grant that we received from Web3 Foundation to pioneer services facilitating other projects’ migration to the Polkadot ecosystem. We are proud to say that we have now com...

Upbots - Demo Review and Tutorial

4 Nov 2020 2 minute read 0 comments DecentralizeCrowd

After spending over 10 months in development of their MVP, the demo for the Upbots trading platform went live recently. Note that, since this is a demo version, most of the features are still disabled, but will become available over the next few week...

Latest Equilibrium Updates in October 2020

4 Nov 2020 3 minute read 0 comments Equilibrium

October has brought us several milestones. Let’s review these impactful events one by one in more detail. Kevin Hu of Dragonfly Capital invested in Equilibrium A partner at Dragonfly Capital has become our angel investor. Kevin will also bring in his...