What is DeFi?

Decentralized Finance

Decentralized Finance, (DeFI) is a highly transparent, open, peer-to-peer financial system that allows anyone to participate.

DeFi consists of applications for lending, borrowing, asset exchange and “mining” built with open source programming. It enables anyone in the world with an internet connection to participate and achieves a substantial reduction in handling fees and charges while achieving higher interest rates and fairness.

Its provides a way for those without access to traditional financial services access to financial services. Most DeFi applications use the Ethereum blockchain, combining smart contracts to realize the functions of decentralized lending and asset exchange.