[{"data":1,"prerenderedAt":58},["ShallowReactive",2],{"term:decentralized-finance":3},{"term":4,"related":45},{"id":5,"title":6,"body":7,"category":27,"description":28,"extension":29,"faq":30,"meta":31,"navigation":32,"path":33,"related":34,"seo":38,"stem":39,"takeaways":40,"__hash__":44},"terms\u002Fterms\u002Fdecentralized-finance.md","Decentralized Finance (DeFi)",{"type":8,"value":9,"toc":22},"minimark",[10,15,19],[11,12,14],"h2",{"id":13},"understanding-decentralized-finance","Understanding Decentralized Finance",[16,17,18],"p",{},"DeFi applications use smart contracts to let people lend, borrow, trade, and earn interest directly from their crypto wallets.",[16,20,21],{},"DeFi can be open and fast, but it carries risks: smart contract bugs, hacks, volatile collateral, unclear regulation, and little or no consumer protection.",{"title":23,"searchDepth":24,"depth":24,"links":25},"",2,[26],{"id":13,"depth":24,"text":14},"crypto","Financial services such as lending and trading built on blockchains without traditional intermediaries.","md",[],{},true,"\u002Fterms\u002Fdecentralized-finance",[35,36,37],"smart-contract","stablecoin","ethereum",{"title":6,"description":28},"terms\u002Fdecentralized-finance",[41,42,43],"DeFi rebuilds financial services with smart contracts.","It runs without banks or brokers.","Risks include hacks, bugs, and no deposit insurance.","iUs2yKdNCbOSmXyjIpCWDj-Y2FaZqh1ojBscQr3MwHw",[46,50,54],{"title":47,"description":48,"path":49},"Ethereum","A blockchain platform for smart contracts, with its own cryptocurrency, ether (ETH).","\u002Fterms\u002Fethereum",{"title":51,"description":52,"path":53},"Smart Contract","A program on a blockchain that runs automatically when set conditions are met.","\u002Fterms\u002Fsmart-contract",{"title":55,"description":56,"path":57},"Stablecoin","A cryptocurrency designed to hold a steady value, usually pegged to the U.S. dollar.","\u002Fterms\u002Fstablecoin",1793374004929]