What is DeFi?
DeFi applications are built on top of decentralized blockchain networks and operate without the need for intermediaries or centralized authorities, removing the need for a centralized exchange. DeFi allows users to trade assets directly from their wallets without the need to deposit funds to a centralized exchange. Users retain full control and custody of their assets, which are stored in their wallets and not held by the exchange.
DeFi platforms also typically have lower fees and are more transparent compared to centralized exchanges. Additionally, DeFi platforms offer a wider range of services.