Decentralized Finance (DeFi)
DeFi refers to an ecosystem of decentralized financial applications (dApps).
In general, DeFi apps aim to create an open-source, permissionless, and transparent financial service environment that operates without a centralized authority.
Why DeFi? DeFi applications eliminate or reduces the need for centralized authority like banks. Instead, they use trustless smart contracts which execute transactions like lending, borrowing, or trading.
Top Projects
1. Uniswap (UNI)
Uniswap is a decentralized trading protocol on the Ethereum blockchain. It operates without traditional intermediaries by using smart contracts to create markets for any pair of tokens, enabling users to swap tokens directly from their wallets.
2. Aave (AAVE)
Aave is a lending protocol that allows users to lend and borrow cryptocurrencies without the need for a traditional intermediary like a bank.
3. Jupiter (JUP)
Jupiter is a so-called "DEX aggregator". It is functioning as a decentralized exchanges, but has no liquidity pool. Instead it scans other DEXs to give you the best price.
