Definition ∞ DeFi platforms are decentralized applications that offer financial services without relying on traditional intermediaries. These platforms facilitate activities such as lending, borrowing, trading, and earning interest on digital assets using smart contracts. They aim to provide open and accessible financial systems.
Context ∞ Current discourse surrounding DeFi platforms centers on their rapid innovation, particularly in areas like automated market makers (AMMs) and yield farming strategies. Significant attention is also given to the associated risks, including smart contract vulnerabilities, impermanent loss, and regulatory uncertainty. The future trajectory will likely involve enhanced security measures, greater user protection features, and clearer regulatory guidelines.
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