DeFi platforms are decentralized applications that offer financial services such as lending, borrowing, trading, and asset management without relying on traditional intermediaries like banks. Built on blockchain technology, DeFi platforms give users more control over their assets and offer greater transparency and security. Popular platforms often feature automated processes through smart contracts, which allow users to participate in activities like staking, liquidity provision, and yield farming, creating a decentralized alternative to traditional financial systems.
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