DeFi platforms primarily operate on blockchain networks

The DeFi (Decentralized Finance) ecosystem is a revolutionary and rapidly evolving financial landscape that leverages blockchain technology to create an open, decentralized, and permissionless alternative to traditional financial systems. It encompasses a wide array of blockchain-based applications and platforms designed to provide decentralized financial services, enabling users to engage in activities such as lending, borrowing, trading, earning interest, and more, without the need for traditional intermediaries like banks or financial institutions. At the core of the DeFi ecosystem are smart contracts, self-executing contracts with predefined rules written in code. These smart contracts automate financial processes, ensuring transparency and trust in financial transactions. DeFi platforms primarily operate on blockchain networks, most notably Ethereum, where developers can build decentralized applications (DApps) that interact with these smart contracts.