DeFi
DeFi stands for Decentralised Finance. It refers to the set of financial services that operate via smart contracts on a blockchain, without a central intermediary managing operations or holding crypto-assets in custody.
In DeFi protocols, the rules are defined in code, and interactions occur directly between users and smart contracts. The most common activities include swapping tokens on decentralised exchanges, providing liquidity, staking and decentralised lending, including yield farming.
DeFi is contrasted with centralised finance (CeFi), in which an operator acts as an intermediary. The absence of an intermediary entails specific risks: technical risks associated with the smart contract code, liquidity risks, and the absence of protections typical of intermediated services.
Disclaimer: Young Platform provides access to DeFi services through its non-custodial wallet. With the non-custodial wallet, crypto-assets remain under the sole control of the user. This service falls outside the MiCAR authorisation perimeter and its regulatory guarantees, is not an investment service, and the user bears the risks of the operations. For the applicable conditions, please refer to the Terms and Conditions of the DeFi Wallet as well as the Halo Effect Information Notice.
