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DeFi coins are digital tokens used within the decentralized finance (DeFi) ecosystem to facilitate various transactions and activities. These tokens are often issued by decentralized platforms and can be used for governance, staking, lending, and earning rewards. DeFi coins allow users to interact with decentralized applications (dApps) and participate in decision-making processes, such as voting on protocol changes or system upgrades. Some popular DeFi coins also offer users a share of platform revenues or incentives for providing liquidity.
UNI, the governance token of Uniswap, allows holders to participate in the decentralized exchange’s governance decisions.
• Used within the DeFi ecosystem for transactions and governance.
• Enable staking, lending, and voting on platform changes.
• Popular DeFi coins include UNI, AAVE, and COMP.
DeFi coins are used for governance, staking, lending, and rewarding participants in decentralized platforms.
While they offer high potential rewards, DeFi coins are highly volatile and can result in significant losses if the market declines.
By holding governance tokens, users can vote on protocol changes, upgrades, and the future direction of the platform.
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