Genaral DeFi terms explained
Commonly used terms of Decentralized Finance are explained in the following sections.
DeFi, or decentralized finance, is just about the most exciting thing to happen to money in centuries. Rather than having to hand over their cash to bankers and investment managers, people can now use DeFi to save, invest, borrow, and lend assets between themselves using cryptocurrencies through fully automated, digital “smart contracts”.
Sounds crazy, huh? Well, actually it’s quite simple. Just like technology is changing the way we do everything else in our lives, it is also changing how we do money. Now, rather than make bankers and chief executives rich like we do in traditional centralized finance (or “CeFi”) models, with DeFi we get to keep all those fees and charges and still save and invest our money.