An open-source, permissionless, and transparent financial service ecosystem that is available to everyone and operates without any central authority. The users would maintain full control over their assets and interact with this ecosystem through peer-to-peer (P2P), decentralized applications (dapps).
The code specifies the resolution of every possible dispute, and the users maintain control over their funds at all times. This reduces the costs associated with providing and using these products and allows for a more frictionless financial system.
Bitcoin DEFI brings numerous benefits when compared to traditional financial services.
Through the use of smart contracts and distributed systems, deploying a financial application or product becomes much less complex and secure.
Bitcoin DEFI run on a P2P network of computers rather than central computer.
Digital agreements that intermediate the exchange of cryptocurrencies (or any other digital asset) between two parties.
Distributed ledger containing information about all the activities that have taken place on a blockchain network is shared by everyone.
Audited by respected industry professionals like CertiK whose job it is to understand security vulnerabilities of the platform
Swapping is the process of swapping one token for another, on the same platform. Swapping is done with a minimal fees for the liquidity provider, that has provided liquidity to the pool.
Liquidity is a measure of the ease at which an asset can be converted to another asset without affecting its price. In simple terms, liquidity describes how quickly and easily an asset can be bought or sold.
Yield farming is a way to make more crypto with your crypto. It involves you lending your funds to others through the magic of computer programs called smart contracts.
A staking pool is a group of coin holders merging their resources to increase their chances of validating blocks and receiving rewards. They combine their staking power and share the rewards proportionally to their contributions to the pool.