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How does DeFi cross the chasm?
by replicating and storing user data across an open and decentralized network rather than individual applications controlling access to disparate silos of information, we reduce the barriers to entry for new players and create a more vibrant and competitive ecosystem of products and services on top.
Albert Wenger • Fat Protocols | Union Square Ventures
DeFi is not a single product or company, but a range of financial services which emulates traditional financial industries, including banking, insurance, bonds, money markets and more. DeFi Dapps enable users to combine these services to achieve desired financial goals. It is often called money LEGOs due to its composability.
Sze Jin Teh • How to DeFi: Beginner
Decentralized lending and borrowing remove this barrier, allowing anyone to collateralize their digital assets and use this to obtain loans. One can also earn a yield on their assets and participate in the lending market by contributing to lending pools and earning interest on these assets. With decentralized lending and borrowing, there is no need
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