Heard on the Block: "DeFi"

Wednesday, March 15, 2023 by Snacks

🤝 Like a banking superapp… without the bank

Decentralized finance, aka DeFi, describes peer-to-peer financial services done on the blockchain through smart contracts. Think: borrowing or lending crypto, earning interest, or trading digital assets like NFTs, all without the involvement of a third party like a bank or crypto exchange. This week, the Euler Finance DeFi protocol lost $197M worth of crypto in a flash loan attack.

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