What is the purpose of a “liquidity pool” in a decentralized finance (DeFi)?

Related Articles

Hamster Kombat Daily Combo Today for July 26, 2024

12 hours ago

Dusty Hanshaw Height, Weight, and Age

19 hours ago

Revolut Cronos Quiz Answers – Followchain

20 hours ago

Marina Protocol is a global Web 3.0 tutorial platform with learning materials.

It provides beginners with easy-to-use content and advanced interfaces for activities.

Users can take part in Web 3.0 projects and get rewarded for their experiences.

You can download the app from the Google Play Store and create a new account.

To begin a quiz, open the Marina Protocol app, tap on “Learn & Earn”, and choose the correct answer.

In this guide, you’ll learn the answer to “What is the purpose of a “liquidity pool” in a decentralized finance (DeFi)?” in Marina Protocol.

What is the purpose of a “liquidity pool” in a decentralized finance (DeFi)?

Question: What is the purpose of a “liquidity pool” in a decentralized finance (DeFi)?

Answer: To provide liquidity for decentralized exchanges.

Further reading

Which blockchain consensus algorithm aims to achieve agreement through a combination of resource ownership and identity verification?

What is the term for a blockchain upgrade that is backward-compatible and does not result in a split of the blockchain?

Which blockchain platform is known for its focus on enabling the creation of non-fungible tokens (NFTs)?

The post What is the purpose of a “liquidity pool” in a decentralized finance (DeFi)? appeared first on Followchain.