Decentralized Finance, or DeFi for short, encompasses financial services such as lending and borrowing on various blockchains like Ethereum and Binance Smart Chain.
A key feature of DeFi is the elimination of slow and costly (often human controlled) portions of financial services through the use of computer automated agreements known as smart contracts.
DeFi's use of smart contracts allows many types of financial transactions to flow based on logic-based predefined conditions including the borrowing and lending of assets.
Smart contracts work to approve or deny transactions based purely on publicly reviewable conditions in the smart contracts rather than the outcome of a transaction being centralized and controlled by a single person or team as is typical in a traditional financial institutions.
I am new to DeFi, how to get started?
At any point during this process, please join our Telegram and Discord chat rooms. Use the chat rooms ask questions to the team and larger Dracula Protocol community or just hang out and socialize with other community members.
We are happy to help you get started or dig deep into Dracula Protocol!