Definition ∞ These are the software applications, platforms, and protocols that facilitate decentralized finance (DeFi) operations. They include decentralized exchanges, lending protocols, stablecoin issuers, and yield farming aggregators. These tools enable users to perform financial transactions without traditional intermediaries.
Context ∞ The ecosystem of DeFi tools is rapidly expanding, presenting both opportunities and challenges. Current discourse often focuses on the security vulnerabilities of smart contracts, the user experience of various platforms, and the regulatory uncertainty surrounding DeFi services. Monitoring the innovation and adoption of these tools is crucial for grasping the trajectory of decentralized finance.
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