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TagsWhat are the key features of fungible tokens in decentralized finance (DeFi)?
Malaika ImranJan 25, 2022 · 3 years ago1 answersCan you explain the main characteristics and functionalities of fungible tokens in decentralized finance (DeFi)? How do they differ from non-fungible tokens?
1 answers
- Fungible tokens in decentralized finance (DeFi) are the backbone of liquidity and seamless transactions. They are like the Lego blocks of the digital world, easily interchangeable and divisible. Fungible tokens represent units of value within DeFi protocols and applications, enabling users to engage in various financial activities. Unlike non-fungible tokens (NFTs), which are unique and indivisible, fungible tokens can be divided into smaller units and traded on decentralized exchanges. This divisibility and interchangeability make fungible tokens highly liquid and suitable for everyday transactions in the DeFi ecosystem.Jan 25, 2022 · 3 years ago
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