With the recent crypto bull run that reached new record highs (and crashed), many are still wondering about the fundamental value of cryptocurrency and blockchain. In this article, you will get an overview of one of the most exciting pillars of the crypto scene – DeFi. DeFi might still be considered to be in an infant stage of growth, but it has promising potential to become a real powerhouse. According to DeFi Pulse, as of June 2021, the total value locked in DeFicontracts currently exceeds US$60 billion.

 (Total value locked = Number of tokens in each protocol *Token value in USD.)

The main objective of DeFi is to take legacy and centralized financial tools and services and replace them with transparent and efficient decentralized applications that allow equal access to everyone.

What is DeFi?  

DeFi refers to blockchain-based applications that are focused on disrupting traditional financial systems with the objective to cut out intermediaries such as banks & brokerages