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Decentralized Finance (DeFi) refers to a broad ecosystem of financial services and applications built on public blockchain networks—most commonly Ethereum—that operate without traditional intermediaries like banks, brokers, or custodians. ### Core Characteristics - **Open & Permissionless:** Anyone with an internet connection can access DeFi protocols; no KYC or approvals are required. - **Smart‑Contract Powered:** Business logic is encoded in immutable smart contracts, automating tasks suc

A **memecoin** is a type of cryptocurrency that originates from an internet meme, joke, or viral social media trend rather than from a serious technical or financial purpose. Key characteristics: - **Community‑driven hype:** Its value is largely driven by social media buzz, memes, and the enthusiasm of a loosely organized community. - **Low barrier to entry:** Often launched quickly with minimal code or utility, making it easy for anyone to create or trade. - **Speculative nature:** Pric