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In 2019, DeFi became one of the most talked about topics in the field of blockchain and, based on this concept, decentralized stablecoins have come to occupy half of the DeFi field. Why have stablecoins, which have always had a relatively low-key existence, come to have such an important position?
It has become evident that stablecoins are essential for the development of the entire cryptocurrency ecosystem, since they guarantee the high liquidity that is needed in the market. If you are a believer in the blockchain industry, then stablecoins will inevitably become your favorite type of cryptocurrency. Yes, you read that correctly! Today, I will introduce to you a killer application—the decentralized privacy stablecoin production tool POFID DAO. This awesome project was initiated by an anonymous team of programmers in Europe. Before we talk about POFID DAO, let’s talk about Decentralized Finance (DeFi) and decentralized stable currencies.
What is DeFi?
DeFi, or Decentralized Finance, in its narrow definition is the use of smart contracts to remove financial intermediaries and reduce transaction costs. A broader definition would be the creation of new forms of