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Decentralized Finance (DeFi) is a movement encouraging alternatives to traditional, centralized forms of financial services. The DeFi movement is based on the idea that the financial system should not be controlled by monopolistic third-party providers of this sort, and that it should instead be decentralized. There is a large and growing range of players in the world of DeFi. Most major applications are built on Ethereum, which allows for the development of decentralized software. They make use of smart contract technology to minimize or completely remove the need for human or corporate gatekeepers.

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