Layer I: Core
DeFi has emerged as a new use case for Blockchain technology. The introduction of the Ethereum network allows for the creation of smart contracts. Smart contracts are programs on the Ethereum Blockchain which automate a variety of tasks. Creative programmers and entrepreneurs have found ways to convert centralized financial services in the physical world to decentralized versions of the same products and services on the Blockchain.
Primary Layer I products and services include::
    Decentralized exchanges (DEXs): Exchanges help users to trade currencies for other currencies. A DEX allows directly trading on the Blockchain while removing any intermediary
      Examples include: Uniswap (on Ethereum) and PancakeSwap (on BSC)
    Lending platforms: Borrowing funds is a key component in any financial ecosystem. Innovative crypto-platforms have developed complex smart contracts to make lending trust- and permissionless
      Examples include: Aave (on Etherum) and Venus (on BSC)
    Stablecoins: A cryptocurrency that's tied to a more stable currency such as the USD and EUR
      Examples include: USDT, BUSD, and DAI
Last modified 3mo ago
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