RE: Hive: Mini-Ethereum?

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I know this is probably a much longer conversation, but can you explain to me what the main goal is for DeFi? I mean what do most people use it for? Are they putting up collateral so they can borrow larger sums of a cryptocurrency and then try to take advantage of arbitrage opportunities or buy the dips and sell the highs to come out ahead? I am still trying to wrap my head around all of it. I certainly have a bigger stake on Hive than I do on ETH, so being able to finally take part in some of this DeFi stuff would be a cool thing.

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DeFi is in its infancy. It obviously stands for Decentralized Finance. Thus far, it mostly is used for yield farming.

However, the terms applies to all aspects of finance. A DEX is DeFi since it provides financial services in a decentralized manner. Then, leasing of HP on Hive is also DeFi. The fact that each account is paid "inflation" for all HP is DeFi.

Eventually, you will likely see much of the financial system's offerings done on DeFi. We could see collateralized loans, mortgages, and a host of other services done through smart contracts.

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Alright thanks! Looks like I need to go Google yield farming now :)

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