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3min chapter
Is DeFi Really Decentralized?
Patrick Boyle On Finance
Introduction
Defy is a term used to describe the part of the crypto universe that aims to build a new financial system. It uses block chains and smart contracts to replace traditional intermediaries in finance. The size of the defi industry is quite volatile, and its total value lock six months ago was over a hundred billion dollars. If you make a mistake and transfer the wrong amount of money in defy, there's no help desk to call to undo the transatYou're simply out of luck.
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