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Published in:
2022 | OriginalPaper | Chapter
16. Decentralised Finance (DeFi)
Author : Henri Arslanian
Published in: The Book of Crypto
Publisher: Springer International Publishing
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Abstract
In the summer of 2020, a little-known concept at the time known as “DeFi” proceeded to take the crypto world by storm. Two years later, DeFi (or decentralized finance) continues to be one of the most popular corners of the crypto space, with blockchains like Ethereum and Solana launching wildly popular decentralised exchanges, staking opportunities, and liquidity pools at a dizzying pace. In this chapter, we provide a clear framework of the evolving DeFi industry, from how decentralised borrowing and lending operates and the role of automated market makers and aggregators to some of the biggest benefits (and challenges) that the industry can deliver.