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DeFi is an abbreviation of the phrase decentralized finance which generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum. In simpler terms, it's financial software built on the blockchain that can be pieced together like Money Legos.
DeFi Pulse is a site where you can find the latest analytics and rankings of DeFi protocols. DeFi Lending monitors the underlying smart contracts of popular lending protocols on the Ethereum blockchain to provide data about existing loans, debts, and interest rates in DeFi.
Interest Per Year (IPY) is the speed at which interest is accruing in DeFi. IPY is calculated by multiplying the current borrow rate by the total outstanding debt.
In general, each asset listed on a lending protocol has its own market and terms for loans. DeFi Pulse combines the data from each cryptocurrency / asset listed by a protocol to find its composite IPY, debt outstanding, and interest rates for that protocol.
Our Earn Income page can help you discover how much you could earn by lending out your cryptocurrency. If you’re not sure where to begin, we’ve written a beginner’s guide called Zero to DeFi. It will teach you the basics guiding you through how to start earning passive income via DeFi lending services.