DeFi or Decentralized Finance refers to a financial system built on blockchain technology that eliminates intermediaries like banks and brokers.
A DeFi system uses smart contracts and decentralized applications (DApps) to enable financial services such as lending, borrowing, trading, and yield farming without relying on traditional financial institutions. DeFi systems operate primarily on blockchain networks like Ethereum, allowing users to interact with financial products in a permissionless and transparent manner.
Recent developments in the US Government’s formation of BTC/ETH strategic reserves have been positive for the cryptocurrency markets. President Donald Trump named Bitcoin, Ether, XRP, Solana and Cardano as the candidates for a strategic reserve.
It came as no surprise that Freename CEO and co-founder, Davide Vicini, announced the acquisition of the domain DeFi.xyz.
Mr. Vicini was excited, indicating that this was a personal acquisition from the GoDaddy marketplace.
There is no information about the domain’s listing or selling price. DeFi is an important keyword in the Web3 ecosystem.
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