What is a DeFi platform and its uses?
In the past few months, one of the most popular domains in the cryptocurrency and blockchain space has been decentralized finance (DeFi). All eyes are focused on developing DeFi products that can decentralize the current economic and financial system. In its simplest form, decentralized finance is the merger of traditional financial services with decentralized technologies such as cryptocurrencies and decentralized applications (dApps). In a more profound sense, DeFi refers to the amalgamation of all the decentralized products and services such as smart contracts, protocols, applications, and digital assets. According to an analysis report by JENCO, "utilizing DeFi is more beneficial since users do not have to follow centralized rules. Direct, peer-to-peer exchanges can occur, given that various values are agreed upon irrespective of the current offline values. Dealers or third-party mediators can also be utilized. However, transactional prices are significantly lower than when using traditional and offline institutions." JENCO is a decentralized financial service platform that aims to enable and help more retail investors. The company aims to introduce the importance of allocating a portion of investors' assets in this emerging market, decentralized