Decentralized finance (DeFi) is a financial ecosystem built on blockchain technology to provide open and permissionless access to various financial services. This innovative ecosystem, rooted in blockchain technology, operates without intermediaries, promoting transparency, accessibility, and autonomy. It relies on smart contracts, self-executing code that automates complex transactions on blockchain platforms, including Ethereum, to automate and execute financial transactions forming the foundation of various decentralized applications (dApps). DeFi encompasses numerous services, including lending, borrowing, trading, and asset management. Its emphasis on inclusivity enables anyone with an internet connection to participate in numerous financial activities, including lending, borrowing, trading, and yield farming. This is achieved through decentralized applications (dApps) that interact with the underlying blockchain. Additionally, DeFi platforms often allow users to maintain control over their assets, eliminating the need to trust third parties. Nowadays, decentralized finance is gaining immense traction across the globe.

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