Recently many people have asked
What is defi?
Defi translates to decentralized finance, which is an application of blockchain.
To put it simply, someone deploys applications to the public chain, such as lending, exchanges, pledges, and derivatives. These are found in the traditional financial industry and are also available on the public chain, but the benefits they provide will be higher than those in traditional finance. is much more radical.
For example, for deposits and loans, there are many annual interest rates of 30-40%, especially when the market is good this year, and the U.S. dollar DeFi financial management on the chain even has an interest rate of 50%+
Some LPs that provide liquidity on some exchanges also have annualized returns of 100-200%.
Regarding these, I can only briefly explain what is going on. I can tell you about the risks next time. After all, if you have been playing for a long time, no one has experienced being hacked and stealing money. Alas...
