TermMax Daily Topic: On-Chain Finance, Will Banks Appear? Many people's initial motivation for entering DeFi is "debanking." But the answer given by financial history is very clear: as long as there is credit, structures similar to banks will definitely emerge. The essence of a bank is not a building, but a function: converting short-term funds into long-term financing; for example: deposits are short-term funds; loans are long-term funds;