DeFi tokens are digital assets that are specifically designed to be used within the decentralized finance (DeFi) ecosystem. These tokens are built on blockchain networks, most commonly Ethereum, and are used to represent ownership or participation in various DeFi applications, platforms, or protocols. DeFi tokens operate on smart contracts, which govern the rules and conditions of the token.
Is DeFi a Component of Web3? DeFi is a novel financial system that is rapidly gaining momentum within Web3. This system offers unprecedented value and utility that cannot be found in conventional financial systems. Web3...
