3 terms
DeFi, or decentralized finance, is the set of financial services such as trading, lending and borrowing run by smart contracts on public blockchains.
A DEX, or decentralized exchange, is a DeFi protocol that lets users swap crypto tokens through smart contracts without handing custody to an intermediary.
A liquidity pool is a smart contract holding reserves of two or more tokens so traders can swap against it in DeFi without a traditional order…