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What Exactly Is DeFi?
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[QUOTE="Setho, post: 238882, member: 29023"] Decentralized finance also known as defi is an internet native project that is aimed to replace the traditional banks that will know for handling money in the today's eco-system . Decentralized finance as the name implies has been created so that they are not going to be any central authority in the whole of the system and transactions that have been made a permanent and can be close verified on the block chain . There are different aspects of decentralized finance ecosystem . The first characteristic is that there is nobody who is going to be controlling transactions and it is completely and anonymous . If you can be able to go and make payments as well as swap from one cryptocurrency to another anywhere there is a third-party liquidity provider without interference from anywhere at financial institutions . You can also be able to make money through decentralized finance through stakings and pools . In this place you are going to inject your own cryptocurrency into it and then they are going to distribute some kind of rewards if you are able to hold for the whole of the stake in time . It is still very much a work in progress but the idea is a very good night. [/QUOTE]
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