Finance & Investing · Crypto & Digital Assets
A topic within Crypto & Digital Assets, itself one of 11 topics in that field and part of Finance & Investing.
2 works
Fabian Schär
Explains how DeFi protocols replace financial intermediaries with self-executing smart contracts and automated market makers, arguing this composability is DeFi's genuine innovation and also its main systemic risk.
Campbell R. Harvey, Ashwin Ramachandran & Joey Santoro
Works through lending, decentralised exchanges and derivatives protocols as instances of the same pattern, arguing DeFi's real innovation is composable, permissionless financial infrastructure rather than any single application.