The DeFi protocolThe set of rules that define interactions on a network, usually involving consensus, transaction validation, and network participation on a... Read More is a decentralized financeA digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by... protocol facilitating lending, borrowing, and trading cryptocurrencies without third-party intermediaries. Built on the Ethereum blockchainThe Ethereum blockchain is a decentralized distributed public ledger maintained by a distributed network of computers, the Ethereum network. The... Read More, the protocol utilizes smart contracts to execute transactions.
