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Loans at the bank vs. DeFi lending and borrowing: 🏦 In traditional banking, you deposit money in a bank and the bank lends it out at a higher interest rate than it pays you. 🏦 For borrowing, the bank assesses your creditworthiness before granting a loan, and you pay high interest to the bank. 🪄 In DeFi lending and borrowing, you deposit cryptocurrency into a DeFi protocol's smart contract and earn interest directly from borrowers. 🪄 For borrowing, you put down your crypto as collateral to secure a loan via a platform such as Defactor. There's no bank in the middle; just you, the blockchain, and anyone who wants to interact with your assets. https://x.com/AurusOfficial/status/1724200446653325340

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