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INTRO: What is decentralized financing (DeFi)?

Abbreviated from decentralized financing, DeFi is an umbrella term for a variety of applications and projects within the blockchain space, aimed at disrupting the world of traditional finance. Inspired by blockchain technology, DeFi is called financial applications built on blockchain technologies, based on secure distributed ledgers similar to those used by cryptocurrencies. The system removes the control banks and institutions have on money, financial products, and financial services. Some of the main DeFi goals are reducing the time of transactions and increased ease of access to financial services.

DeFi is designed to use cryptocurrency for transactions. The technology is still developing, so it is difficult to determine precisely how existing cryptocurrencies will be implemented, if at all. Much of the concept revolves around stablecoin, a cryptocurrency backed by an entity or pegged to fiat currency like the dollar.

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Mempool sniping

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