What is

DeFi

Short for decentralized finance, apps that let people lend, borrow, or trade crypto without a traditional bank

• Aave and DeFi tokens rise despite rising bond yields
• Layer-2 and DeFi tokens rise as Fed rate-hike fears calm down
• Small price dip caused $36M in DeFi loan liquidations
• DeFi platform drops consumer app, pivots to powering other companies' products