TLDR
Decentralized finance, or DeFi, has been growing at an outstanding rate since late 2017. DeFi protocols enable lending, derivatives, exchanges, gambling, and payments without a central authority. The emergence of DeFi in late 2017 has, in my opinion, saved the Ethereum network by giving it a second mainstream application outside ICO’s (the first being stable coins) Many, if not all, of these protocols are currently centralized in some way or another with the end goal of being completely decentralized.via the TL;DR App
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