TermMax Daily Topic: Will DeFi Become Another Traditional Finance?



This is a frequently discussed question. If on-chain we start to see:
- Fixed income
- Interest rate markets
- Credit expansion
- Term structure

What's the difference between it and traditional finance?

The answer is actually quite simple: the infrastructure is different.

Traditional finance relies on:
- Central banks
- Commercial banks
- Clearing institutions
- Legal systems
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