On-Chain Products

Definition ∞ On-chain products are financial instruments, applications, or services built and operated directly on a blockchain network. These products leverage the inherent properties of blockchain, such as immutability, transparency, and decentralization. They include decentralized exchanges, lending protocols, stablecoins, and tokenized assets.
Context ∞ The rise of decentralized finance, or DeFi, has significantly expanded the landscape of on-chain products, making them a constant feature in crypto news. These offerings allow users to interact with financial services without intermediaries, presenting both opportunities and regulatory challenges. Understanding their functionality is key to comprehending market trends and innovation in the digital asset space.