Decentralized Finance is a brand new monetary system, its primary goal is to give anyone access to traditional financial services by offering a borderless, permissionless, and uncensored financial service ecosystem powered by blockchain technology. Traditional financial applications like trading, lending, borrowing, payments, and insurance can be put into smart contracts and executed by Decentralized Applications (DApps) Decentralized Finance is Peer-to-Peer Financial Services.
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Decentralized finance (known as DeFi, for short) essentially involves a brand-new monetary system being built on public blockchains.