Decentralized exchanges give anyone with WiFi and cell phone the ability to not only take out a loan, but lend their own crypto and earn interest directly, cutting out corrupt and exclusive banking institutions. With the introduction of smart contracts and the advancement of blockchain technology, more and more intermediaries are being cut out, putting power in the hands of people. While the core tenet of DeFi is decentralization, there are still leaders in the industry. Bad faith actors are inevitable, but they should be the outliers, and it’s up to all of us to make sure they don’t define the movement.
The Cosmos HackAtom is here! Prizes worth $1,000,000 up for grabs.