What is DeFi?
Decentralized Finance (DeFi) is a financial system built on decentralized assets. The DeFi ecosystem comprises lending and borrowing, decentralized exchanges, and derivatives trading among other facilities.
The DeFi market consists of many innovations such as:
Lending Platforms - Compound, Aave, dYdX, Oasis, MakerDAO, Dharma etc.
Decentralized Exchanges (DEX) - Uniswap, EtherDelta, Bancor.
Assets â Digital assets such as WBTC, RenBTC etc.
Derivatives - Dai, Synthetix etc.
Payments â Platforms such as Flexa (Ethereum) and the Lightning Network (Bitcoin).
In October 2020, the total value locked in DeFi in USD is $10.71 Bn. Uniswap alone dominates 23% of the market share.
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