DeFi allows borrowers to take hassle-free loans: You don’t have to worry about bank account creation, lengthy application reviews or paperwork. For crypto holders, DeFi offers an opportunity to lend their assets to other users, thus earning a profit of about 20%. Decentralized exchanges often act as custodians of funds, thus eliminating that annoying middleman again. This is how DeFi should work and probably will work someday. And what follows is the actual current situation.
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Source: Cryptocurrency - investing.com
