What is DeFi?

An Introduction to DeFi and Why it Matters

Danger Zhang
Dec 24, 2019 · 5 min read
DeFi has grown exponentially since 2017 (Source: DeFi Pulse)

DeFi = Better Banking

If you’ve ever paid an overdraft fee, wire transfer fee, account maintenance fee, dealt with minimum balances or account freezes, you know that traditional banking could be better. A lot better.

What’s Taken so long?

But wait, it’s 2019 and Bitcoin has been around for 10 years. Didn’t we have “decentralized finance” before? Wasn’t Bitcoin already supposed to let you “Be your own bank”??

DAI — The Building Block of DeFi

High Interest Savings — DeFi’s First Killer App

DeFi Composability

Better Finance

DeFi stands for Decentralized Finance, but that’s just part of the story. When we look at the alternatives in traditional finance, it’s clear that DeFi isn’t just more decentralized, it’s categorically better than anything else out there today.

Coinmonks

Coinmonks is a non-profit Crypto educational publication. Follow us on Twitter @coinmonks Our other project — https://coincodecap.com

Danger Zhang

Written by

Writer with an Engineering Degree

Coinmonks

Coinmonks

Coinmonks is a non-profit Crypto educational publication. Follow us on Twitter @coinmonks Our other project — https://coincodecap.com

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