Decentralized finance, or DeFi for short, is a move away from traditional finance the way we know it. Instead of having the layers of intermediaries in traditional (centralized) finance, DeFi uses blockchain technology and smart contracts (programs that dictate how people interact with one another) to replace these intermediaries, allowing people to transact directly with one another.
Anyone can create a DeFi project, and as blockchain technology is improving exponentially, any DeFi project can provide traditional financial services such as lending, borrowing, asset management, etc. As DeFi is currently at a relatively early stage, it is important to vet DeFi projects before committing your assets to them.
At XREX Earn, our team of seasoned cybersecurity, regulatory, and financial professionals do the vetting for you, so you can worry less when staking your assets on these projects.