The main goal of DeFi is to become an alternative to the banking sector by implementing open source protocols.
Advantages of DeFi applications:
🔹- Any user can get one or another financial service, for example, lending, bypassing the bank.
🔹- Decentralized landing protocols minimize risks and open access to borrowed funds 24/7.
🔹- The procedure for creating your own digital asset and its introduction to the market has become noticeably easier and has become available to almost everyone.
🔹- Payment processing does not last several days, but a maximum of a couple of hours
🔹- interest rates and commissions have become much lower.
🔹- For developers, the ease of creating applications is becoming a clear advantage due to transparency and open source, in addition, DeFi projects can be developed on any platform that interacts with smart contracts.
👉 Most of the existing DeFi are built on the Ethereum blockchain, and the most famous project is MakerDAO, a decentralized lending protocol.
We have some news for you. If you want more than just DeFi, then stay tuned! New discovery is cooooming!🎈
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