Web3 is another technological revolution, which is undergoing this familiar boom and bust cycle. Until now, Web3 has succeeded in installing a cluster of technologies with enormous potential for economic growth and transformation. DeFi, or decentralized finance, has installed the infrastructure to enable a new financial system which replaces intermediaries with code and replaces trust with the assurance of immutable smart contracts. However, until now, DeFi has mostly transacted magic internet money, in the form of crypto tokens.

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Author: Justin Banon

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