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DeFi (Decentralized Finance)

Financial services such as lending and trading built on blockchains without a central intermediary.

CryptoIntermediate

Definition

DeFi runs on smart contracts. Users interact with them from their own wallets, using protocols for swaps, lending and yield. Risks include smart contract bugs, hacks and the loss of money in pools.

Watch out for

There is no customer support or deposit insurance. A flaw in the code can mean permanent loss.

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