In my previous article “Interest Rate Swaps meet DeFi” I focused on explaining how “competitors” of Voltz operate and how Voltz is a true Interest Rate Swap (IRS) protocol. Given that the size of the IRS's market is estimated at $1 quadrillion in TradFi it seems like the IRS instrument being introduced to DeFi is not being noticed and talked about enough. Thus I decided that given that the IRS are not a common concept, I would like to take this opportunity to explain about them in detail...