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Decentralized finance (DeFi) is a variety of financial applications that are built using blockchain technology. More specifically, decentralized finance can also be referred to as a movement that focuses on providing an open-source, permissionless, and transparent financial system that is available to everyone and can operate without the need for any central authority.
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Defi is also is known as decentralized finance which leverages existing blockchain technology into a decentralized micropayment platform without any intermediaries
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