, spread over a number of application-friendly blockchains including Ethereum, Solana, Cardano and others. Its core group of users is composed of “crypto natives,” though a number of financial institutions have begun piloting closed-circuit versions of open DeFi protocols or running experiments on-chain.
These systems, which execute basic financial operations at any time of day using pre-set rules and publicly auditable code, were and remain able to return funds to users, liquidate underwater loans based on pre-established collateral requirements and generate yield.| Opinion