Software protocols that run on top of a blockchain network like Ethereum or Cosmos are called DeFi projects. To automate financial services, these projects use the underlying protocol technology and novel innovations. DeFi Projects gets their name because they are non-custodial and decentralized. The term “non-custodial” refers to the fact that the system does not manage or control the user’s crypto assets. Definitions – Decentralized Finance, or DeFi, is an ecosystem of financial applications built on existing blockchain networks. Defi projects solve unique problems within the financial industry, such as Lending and Borrowing, Crypto Exchange, and Derivatives. In Our Today’s
The post Top 5 DeFi Projects With the Highest TVL (June 2022) appeared first on The Merkle News.
Powered by WPeMatico
