10 Things to Know About DEFI

1. DEFI stands for Decentralized Finance, which is a concept that aims to revolutionize the traditional financial system using blockchain technology and smart contracts.

2. DEFI projects aim to provide financial services such as lending, borrowing, trading and investing in a decentralized manner, without the need for intermediaries such as banks or financial institutions.

3. DEFI projects typically operate on public blockchains such as Ethereum, providing transparency, security, and immutability of transactions.

4. One of the key features of the DEFI project is the ability to earn passive income through yield farming or liquidity mining. Users can lend or provide liquidity to the platform and earn rewards in the form of tokens.

5. DEFI projects often have native tokens that serve various purposes such as governance, utility, or as a medium of exchange within the ecosystem.

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