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What is #DeFi?

1\🧵Do you know what #DeFi is in general?

#DeFi is a financial instrument in the form of services and applications created on the blockchain.

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2\🧵So what's the point of #DeFi?

The main task of decentralized finance is to become an alternative to the banking sector and replace the traditional technologies of the current financial system with open-source protocols.

3\🧵 What #DeFi consist of?⬇️

  • Blockchain

  • Digital assets

  • Wallets

  • Smart contracts

  • Dapps

  • Stablecoins

And it's only in general...👀

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4\🧵 If #DeFi is so cool, what are its advantages?

  • Decentralization

  • Lack of human factor

  • Transparency

  • Inclusivity

  • Cross-border