What are some examples of DeFi applications?
An example of an AI chatbot conversation about decentralized finance applications.
What are some examples of DeFi applications?
Decentralized Finance (DeFi) applications include platforms like Uniswap for trading, Aave for lending, and Compound for earning interest.
How does Uniswap work?
Uniswap is a decentralized exchange that uses an automated market maker (AMM) model, allowing users to trade tokens directly from their wallets.
What are the risks associated with using DeFi applications?
Risks include smart contract vulnerabilities, market volatility, and potential loss of funds due to hacks or exploits.
Can you explain how Aave works?
Aave is a lending platform where users can deposit assets to earn interest or borrow assets by providing collateral.
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