What Is DeFi? How Ethereum Decentralized Finance Works (2026)
Decentralized finance processed over $3 trillion in trading volume in 2024 — with no banks, no brokers, and no customer service line. DeFi explained means understanding Ethereum smart contracts, Aave, Uniswap, and $3.1 billion in 2025 losses. This is the authoritative 2026 guide to how it actually works, what’s real, and what’s still hype.
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