What is DeFi?
- On November 14th, 2019, the decentralized finance (DeFi) startup Compound Finance raised $25 million in a series A funding round led by the a16z crypto fund.
- For context, decentralized finance, or DeFi, is the development of financial services and tools with the use of decentralized ledger technology (DLT).
- According to defipulse.com , which has become the Coinmarketcap -equivalent info site for this particular niche in the blockchain world, only one-third of 1% of the assets that comprise the global crypto market cap are currently staked into DeFi smart contracts and platforms.
- Continuing Venezuelan hyperinflation has led the Venezuelan people to largely forsake their existing national financial system for a more decentralized one based on bitcoin .
- To name but a few, tokenized assets, decentralized loans and decentralized exchanges.
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