DeFi platforms are decentralized financial systems built on blockchain networks that offer users financial services without traditional intermediaries. These platforms allow for lending, borrowing, trading, and earning interest through smart contracts. Examples include Uniswap, Compound, and MakerDAO. DeFi platforms prioritize transparency, security, and accessibility by using blockchain’s decentralized structure. Users maintain control over their assets, avoiding centralized entities, while benefiting from lower fees and enhanced privacy, revolutionizing finance by democratizing access to financial services globally.
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