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DeFi lending platforms have gained popularity as they enable lenders to earn interest on crypto assets. Unlike the traditional banking system, crypto lending platform development enables the users to become a lender similar to a bank. A person can simply lend their assets to other people while earning high interest on that particular loan. Similar to the loan system in traditional banks, DeFi lending is based on lending pools where individuals are adding their assets to the lending pool, and rapid distribution is carried out across borrowers via smart contracts. Numerous mechanisms operate in the back end to ensure the hassle-free, accurate, and secure working of crypto lending platforms while ensuring a robust user experience.

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